Enterprise blockchain company Ripple has announced the acquisition of digital asset wallet and custody infrastructure firm Palisade.
The latest move is meant to enhance Ripple's custody business, which was initially launched in October 2024.
Paladise specializes in quickly deploying wallets at scale with multi-chain support. Notably, it is already integrated with the XRP Ledger.
"Our wallet-as-a-service platform will help power Ripple's next-gen custody and payments infrastructure, bringing our technology to businesses worldwide. Same team, now at enterprise scale," the firm said in an announcement.
Ripple's acquisition spree
Ripple, which is primarily known for its association with the XRP cryptocurrency, has now shelled out more than $4 billion on a slew of acquisitions and investments.
Recently, the company announced that it had agreed to buy treasury management firm GTreasury for $1 billion.
Earlier this year, Ripple also bought prime brokerage Hidden Road, which has been rebranded as "Ripple Prime," and stablecoin payments platform Rail.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team