Ripple labs have filed a Trademark application For the word “Ripple Custody,” which indicates that the company behind XRP (XRP) Token considers the expansion of its brand in the crypto safeguard space.
Filling four cases of use for the word mark, including one who reads “financial services, in particular, custodial services on the nature of maintaining storage and cryptocurrency (…) for financial management purposes.”
Crypto custodians Store and manage digital assets for individuals and institutions, aiming to reduce risks such as private key loss and security violations. Demand for precautionary services has grown significantly in recent years, especially compliance with the approval of funds exchanged by the exchange (ETF) in the US in 2024. The major players in this space include Coinbase, Citi and BNY Mellon, among others.
Screenshot of Ripple Labs trademark application. Source: Justia trademarks
Trademark filing follows Ripple’s Launch of its its Preservation service In October 2024. At that time, the company said the transition was seeking to change -Variety of income streams beyond the payment service.
A Ripple spokesman refused to comment on the trademark filing.
Will Ripple launch a crypto wallet?
Another case of use listed in the trademark filing is reading, “Downloaded software for cryptocurrency, fiat currency, virtual currency, and digital currency;
Case of use may indicate that ripple may be planning to launch a Cryptocurrency walletEither to support native token, XRP, or a wider variety of digital assets. Currently, the company does not offer a crypto wallet. The Wallet Services offer will provide another stream of revenue to the ripple by collecting transaction fees.
Companies have offered support for XRP and other cryptocurrencies including Ledger and Trezor Hardware Wallets, Trust the wallet, Exodo And much more.
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