Ripple continues $4B acquisition spree with Palisade deal

Ripple, a crypto services company, announced on Monday its acquisition of Palisade, a crypto wallet and custody firm, to enhance institutional offerings by integrating Palisade’s wallet-as-a-service into Ripple Custody for banks and Ripple Payments.

The acquisition targets fintechs, crypto-native firms, and corporates as part of Ripple’s strategy to support their entry into cryptocurrency markets. Ripple president Monica Long stated, “Corporates are poised to drive the next massive wave of crypto adoption.” She elaborated, “Just as we’ve seen major banks go from observing to actively building in crypto, corporates are now entering the market, and they need trusted, licensed partners with out-of-the-box capabilities.” This move follows the U.S. Securities and Exchange Commission’s decision to drop its long-running legal case against Ripple, allowing the company to accelerate expansions in trading, stablecoins, and crypto treasury services.

Palisade’s wallet-as-a-service will integrate directly into Ripple Custody, Ripple’s dedicated arm for providing secure custody solutions to financial institutions such as banks. This integration enables these institutions to offer comprehensive crypto custody services to their clients, including secure storage and management of digital assets. Beyond custody, the wallet technology will incorporate into Ripple Payments, the company’s cross-border payments platform. Here, it will deliver core infrastructure specifically for handling subscription payments and collection capabilities, streamlining recurring transactions in cryptocurrency.

@palisadeinc has been acquired by @Ripple