Ripple, a financial technology company that offers crypto solutions for businesses, today announced the acquisition of digital asset wallet and custody company, Palisade. The acquisition will significantly expand Ripple’s custody capabilities to directly serve the core needs of fintechs, crypto-native firms, and corporates.
Ripple Custody is designed for banks and financial institutions that want to safely secure digital assets, stablecoins, or Real World Assets (RWAs). With this acquisition, Ripple can now serve a broader set of customers and use cases. Palisade brings a secure, fast, and scalable “wallet-as-a-service” technology designed for the quick movement of value and easy integration, making it ideal for the high-speed use cases of customers who need an out-of-the-box solution ideal for high-frequency transactions, on- and off-ramps, and payments.
“Secure digital asset custody unlocks the crypto economy and is the foundation that every blockchain-powered business stands on—that’s why it’s central to Ripple’s product strategy,” said Monica Long, President of Ripple. “Corporates are poised to drive the next massive wave of crypto adoption. Just as we’ve seen major banks go from observing to actively building in crypto, corporates are now entering the market, and they need trusted, licensed partners with out-of-the-box capabilities. The combination of Ripple’s bank-grade vault and Palisade’s fast, lightweight wallet makes Ripple Custody the end-to-end provider for every institutional need, from long-term storage to real-time global payments and treasury management.”
Ripple Custody is already trusted by tier-1 global institutions, including Absa Bank, BBVA, DBS, Societe Generale – FORGE and more. It’s designed to act as a secure “vault” for institutional crypto, offering a tamper-proof audit trail and cryptographic approval process ideal for compliance. It supports management of multiple vaults, providing a complete view across assets and venues.
Palisade’s lightweight architecture combines governance and security features—including Multi-Party Computation (MPC) and zero-trust architecture—with fast wallet provisioning, multi-chain support, and DeFi integration.
- Multi-Party Computation (MPC): Security solution that splits wallet keys into key fractions or “shards”.
- Zero-Trust Architecture: Requires strict verification for every user and device attempting to access network resources.
- Fast Wallet Provisioning: Quickly create and deploy new digital wallets for customers at scale.
- Multi-Chain Support: Hold and manage digital assets across different blockchains.
- DeFi Integration: Interact with decentralized finance (DeFi) protocols, such as lending or yield platforms.
Palisade’s technology will also directly integrate into Ripple Payments, complementing use cases that require mobilizing value quickly and efficiently. It will provide the core infrastructure for subscription payments or collection capabilities—securely provisioning wallets at scale, facilitating high-speed transaction signing, and sweeping funds efficiently to operational accounts.
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