Ripple Labs has filed a trademark application for “Ripple Custody,” indicating a move into cryptocurrency custody services, Cointelegraph has learned.
The application covers downloadable software for the custody, transmission, and storage of cryptocurrencies, fiat, virtual, and digital assets, alongside financial custodial services focused on managing asset storage for financial management purposes.
It also includes peer-to-peer financial data transmission and Software as a Service (SaaS) solutions for digital asset custody.
This move follows Ripple’s October 2024 launch of its custody service, marking an expansion beyond its core payment settlement operations.
Institutional demand for secure asset storage has risen sharply, particularly after the U.S. approval of spot Bitcoin ETFs in 2024.
Companies like Coinbase, Citi, and BNY Mellon have established themselves as leaders in the custody space, offering solutions to mitigate risks such as private key loss and cyber threats.
While Ripple has not commented on the trademark filing, the inclusion of custody-related software suggests it may be developing a crypto wallet, potentially supporting XRP and other digital assets.
If launched, the service could provide an additional revenue stream through transaction fees, competing with Ledger, Trezor, Trust Wallet, and Exodus.
Featured image credit: Edited from Freepik
