Fintech giant Ripple continues to actively expand its ecosystem by acquiring the custodial solutions developer Palisade. This deal will significantly strengthen the company’s Ripple Custody platform and allow it to offer its services to a broader range of clients, including fintech companies, cryptocurrency firms, and other corporations.
Expanding the Client Base
Initially, Palisade’s technology was focused on banks and financial institutions working with digital assets, stablecoins, and real-world assets (RWA). However, the acquisition of Palisade enables Ripple to offer its solutions to other corporate clients, such as fintech companies and cryptocurrency firms, significantly broadening the scope of its services.
Monica Long, Ripple’s president, commented on the deal, saying: “Corporations will be the driving force of the next wave of cryptocurrency adoption. Like banks, they are entering the market and need licensed partners with ready-made solutions.” She added that the integration of Ripple’s custody solution with Palisade’s wallet will create a comprehensive offering for institutional clients, covering both long-term asset storage and global payments.
Innovations in Security Technology
A key aspect of Palisade’s technology is its use of advanced security solutions. Its architecture is built on multiparty computation (MPC) and a zero-trust framework. MPC allows for the division of wallet keys into several parts, thus enhancing security. The zero-trust architecture requires strict verification of every user and device, providing an additional layer of protection.
These technologies will also be integrated into Ripple Payments to simplify and accelerate payment operations, including subscriptions, opening up new possibilities for business clients.
Ripple Custody: Trusted by Major Institutions
Ripple Custody is already used by several large international financial institutions, such as Absa Bank, BBVA, DBS, and the French bank Societe Generale’s subsidiary SG-FORGE. These organizations have recognized the reliability and convenience of Ripple’s custodial solutions, allowing them to confidently work with digital assets.
A New Step in Brokerage Services
In addition, Ripple is expanding its services for institutional clients by launching prime brokerage services in the United States. These services allow for over-the-counter (OTC) transactions with a variety of digital assets, including XRP and RLUSD.
The service was launched after Ripple acquired the prime broker Hidden Road. Hidden Road’s solutions have been integrated with Ripple’s licenses and are now offered under the Ripple Prime brand. This allows institutional clients to engage in currency markets, digital assets, derivatives, swaps, and fixed-income instruments.
Michael Higgins, International CEO of Ripple Prime, noted that the launch of OTC trading will complement the company’s existing offerings in derivatives, providing U.S. institutional clients with a comprehensive solution for their trading strategies.
Acquisition of GTreasury
In October, Ripple also announced the acquisition of treasury management provider GTreasury for $1 billion. This move is part of the company’s strategy to expand its financial ecosystem and offer institutional clients an even broader range of services.
Thus, the acquisition of Palisade and other recent moves by Ripple demonstrate the company’s drive to strengthen its position in the cryptocurrency and financial technology markets, offering innovative solutions for institutional clients worldwide.
