Ripple, the blockchain tech firm closely associated with the XRP Ledger (XRP) Network, said Monday it has acquired crypto wallet provider Palisade to expand its institutional custody and payment offering.
Palisade’s Wallet-as-a-service platform will be integrated with Ripple custody, a product designed for banks and corporations that hold digital assets, stablecoins and tokenized real-world assets.
Ripple said Palisade brings tools for high-speed, high-frequency use cases—such as on- and off-ramps or business payment flows—where users need secure wallets that can be created and deployed quickly. The tech also supports multiple blockchains and can interact with decentralized finance protocols (DEFI).
Ripple’s broader strategy is to build a crypto-native alternative to traditional financial infrastructure. This includes cross-border payments, liquidity, StableCoin issuance and, in particular, the tools required to securely manage assets. Ripple says it now holds more than 75 regulatory licenses worldwide and supports banks such as BBVA, DBS and Societe Generale’s Crypto Division.
With the acquisition of Palisade, Ripple has acquired the technical pipeline to serve faster transition customers such as fintechs that require instant wallet creation for new users or corporations managing global Treasury operations, Ripple President Monica Long told Coindesk in an interview.
“Palisade offered the best set of capabilities to complement what we’ve built with ripple payments, which has grown tremendously this year with the growth of stableCoin payments,” Long said.
The acquisition follows Ripple’s 2023 purchase of Swiss custody firm Metaco and three other deals this year: $1.25 billion for Prime Broker Hidden Road (now Ripple Prime), $200 million for StableCoin Payment Firm Rail and Treasury Tech Provider Gtreasury.
Read more: Ripple expands US institutional offering with introduction of digital asset spot prime brokerage
