Ripple, a blockchain technology company with close ties to the XRP Ledger (XRP) network, announced on Monday that it has acquired cryptocurrency wallet provider Palisade to expand its institutional custody and payment services.
Palisade’s Wallet-as-a-Service platform will be integrated into Ripple Custody, a product designed for banks and enterprises working with digital assets, stablecoins, and tokenized real-world assets.
Ripple said Palisade provides tools for high-velocity, high-frequency use cases such as on- and off-ramps or enterprise payment flows that require a secure wallet that users can quickly create and deploy. The technology also supports multiple blockchains and can interact with decentralized finance (DeFi) protocols.
Ripple’s broader strategy is to build a crypto-native alternative to traditional financial infrastructure. This includes cross-border payments, liquidity, and stablecoin issuance, as well as the growing number of tools needed to securely manage assets. Ripple said it currently holds more than 75 regulatory licenses around the world, supporting banks such as BBVA, DBS, and Société Générale’s crypto division.
The acquisition of Palisade gives Ripple the technological foundation to serve fast-moving customers, including fintech companies that require instant wallet creation for new users and companies that manage global financial operations, Ripple President Monica Long said in an interview with CoinDesk.
“Palisade has provided us with the best feature set to complement what we have built with Ripple Payments, which has grown significantly this year due to the adoption of stablecoin payments,” Long said.
The acquisition follows Ripple’s acquisition of Swiss custodian Metaco in 2023 and three other deals this year, including $1.25 billion for prime broker Hidden Road (now Ripple Prime) and $200 million for stablecoin payments firm Rail and treasury technology provider GT Treasury.
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