Ripple, a global payments network, has filed a trademark application for “Ripple Custody” to expand its offerings in the digital asset space.
As a result of the February 25, 2025 submission, the application outlines several use cases for the trademark, including “financial services, namely, custodial services in the nature of maintaining storage and possession of cryptocurrency […] for financial management purposes.”
The submission shows that the payment network company is looking to provide secure storage solutions for digital assets, a service that is in demand among institutional investors.
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A strategic move into custody and wallet services
The filing also hints at the development of a cryptocurrency wallet. One section describes “downloadable software for custody of cryptocurrency, fiat currency, virtual currency, and digital currency; downloadable software for transmission and storage of cryptocurrency, fiat currency, virtual currency, and digital currency.”
This could indicate that it plans to launch a wallet supporting its native token, XRP, and potentially other digital assets.
Ripple’s move into custody services aligns with its acquisition of Swiss custody firm Metaco in 2023. The company launched its custody service in October 2024, aiming to diversify its revenue streams beyond its core payment solutions.
As it stands, the company official has declined to comment on the trademark filing, leaving the crypto community speculating about the company’s next steps.
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Implications for the crypto market
The potential launch of a Ripple wallet could impact the crypto ecosystem. Offering secure storage and management solutions could attract both individual and institutional users, further solidifying the firm position in the market.
As the global cryptocurrency custody market continues to grow, Ripple’s strategic expansion into this space positions it to compete with established players like Coinbase and BNY Mellon.
“Is Ripple Custody the next big catalyst for growth?” said Abs Nassif, a member of the 3T Crypto Research Team. “By entering the lucrative custody sector, Ripple diversifies its revenue streams, reducing reliance on remittance services and positioning itself against competitors in a growing market.”
With the SEC’s lawsuit against Ripple nearing its conclusion, the company’s focus on expanding its services could mark a new chapter in its journey, potentially driving further adoption of XRP and other digital assets.