tl;dr
Ripple has filed a trademark for "Ripple Custody" with the US Patent and Trademark Office, indicating a strategic move into the custody sector. The company aims to provide secure storage solutions for cryptocurrencies and fiat currencies through downloadable and cloud-based software. The filing outl...
Ripple has filed a trademark for "Ripple Custody" with the US Patent and Trademark Office, indicating a strategic move into the custody sector. The company aims to provide secure storage solutions for cryptocurrencies and fiat currencies through downloadable and cloud-based software. The filing outlines plans for a comprehensive custodial service tailored for institutional clients, incorporating high-security measures and integration with DeFi and Web3 applications. This development aligns with Ripple's broader expansion strategy, which includes recent regulatory approval in Dubai and ongoing legal proceedings with the SEC regarding the classification of XRP.
Ripple is advancing its position in digital asset custody with a trademark filing for “Ripple Custody” at the United States Patent and Trademark Office (USPTO). The application was submitted on Feb. 25 but has yet to be assigned to an examiner. The filing aligns with Ripple’s broader strategy to expand into the rapidly growing custody sector, which is projected to exceed $20 trillion as institutional adoption accelerates. Ripple has already made significant investments to bolster its custody offerings, including the acquisition of Metaco and Standard Trust, two key players in the industry, to enhance its ability to provide secure and scalable asset storage solutions.
According to the trademark filing, Ripple Custody will feature downloadable and cloud-based software to safeguard cryptocurrencies and fiat currencies. This initiative aims to deliver secure storage, transmission, and management of digital and traditional assets. Beyond software, Ripple is positioning itself as a comprehensive custodial service provider tailored for institutional clients. The filing outlines a peer-to-peer network for electronic data transmission and a Software-as-a-Service (SaaS) model that enables financial institutions to store, manage, and transfer fiat, virtual, and digital assets through online platforms. These tools would greatly improve Ripple Custody’s current infrastructure, which already incorporates high-security measures, including Multi-Party Computation (MPC) and Hardware Security Modules (HSM). Additionally, it integrates with DeFi and Web3 applications, expanding its appeal to institutional investors seeking greater exposure to digital finance.
This custodial push coincides with other strategic advancements for Ripple. The company recently secured regulatory approval from the Dubai Financial Services Authority (DFSA), making it the first blockchain-based payment provider to receive such recognition. Meanwhile, Ripple’s ongoing legal battle with the US Securities and Exchange Commission (SEC) could soon be resolved. Reports indicate that the SEC is considering whether to classify XRP as a commodity, a decision that could significantly impact the token’s regulatory outlook.