Ripple, the blockchain tech firm closely associated with the XRP Ledger (XRP) network, announced on Monday that it has acquired crypto wallet provider Palisade to enhance its institutional custody and payment services.
Palisade’s wallet-as-a-service platform will be integrated into Ripple Custody, aimed at banks and corporations managing digital assets, stablecoins, and tokenized real-world assets.
Ripple noted that Palisade offers tools suitable for high-speed, high-frequency applications—such as on- and off-ramps or enterprise payment flows—where secure wallets need to be created and deployed quickly. The technology also supports multiple blockchains and interacts with decentralized finance (DeFi) protocols.
Ripple’s broader strategy aims to develop a crypto-native alternative to traditional financial infrastructure, encompassing cross-border payments, liquidity, stablecoin issuance, and increasingly, tools for secure asset management. Ripple now holds over 75 regulatory licenses worldwide and collaborates with banks such as BBVA, DBS, and Societe Generale’s crypto division.
With the acquisition of Palisade, Ripple gains the technical capabilities to serve rapidly evolving clients like fintechs requiring instant wallet creation for new users and corporations managing global treasury operations, Ripple President Monica Long shared in a discussion.
“Palisade provided the best capabilities to complement Ripple Payments, which has been experiencing significant growth this year with the increase in stablecoin payments,” Long stated.
This acquisition follows Ripple’s purchase of Swiss custody firm Metaco in 2023 and three other deals this year: $1.25 billion for prime broker Hidden Road (now Ripple Prime), $200 million for stablecoin payments firm Rail, and treasury tech provider GTreasury.
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