Ripple acquires Palisade to expand Ripple Custody services.
The fintech firm Ripple has acquired Palisade, a developer of custodial solutions. This acquisition will enable the expansion of Ripple Custody, offering it to a broader range of clients.
Initially, the service was intended for banks and financial institutions dealing with digital assets, stablecoins, and RWA. The acquisition of Palisade will allow Ripple to serve fintech companies, crypto firms, and other corporations. Palisade’s “wallet-as-a-service” technology is suitable for fast and frequent transactions.
“Corporations will drive the next wave of cryptocurrency adoption. Like banks, they are entering the market and need licensed partners with ready solutions,” stated Ripple President Monica Long.
She added that the integration of Ripple’s custody and Palisade’s wallet will create a comprehensive solution for institutional clients — from long-term storage to global payments.
Palisade’s architecture is based on multi-party computation (MPC) technologies and a zero-trust architecture. MPC divides wallet keys into several parts, while zero-trust requires strict verification of each user and device.
Palisade’s technology will also be integrated into Ripple Payments for fast transactions, including subscriptions.
Institutions such as Absa Bank, BBVA, DBS, and Societe Generale’s division SG-FORGE already use Ripple Custody.
Ripple has launched prime brokerage services for institutional clients in the United States. They can now conduct over-the-counter (OTC) transactions with dozens of digital assets, including XRP and RLUSD.
The new service is the result of the acquisition of prime broker Hidden Road. Ripple has combined its solutions and licenses under the Ripple Prime brand. This has provided institutions access to the foreign exchange market, digital assets, derivatives, swaps, and fixed-income instruments.
According to Michael Higgins, the international general manager of Ripple Prime, the launch of OTC trading complements the company’s existing services in the derivatives sector. This will offer American institutions a comprehensive solution for their trading strategies.
Back in October, Ripple announced the acquisition of treasury operations systems provider GTreasury for $1 billion.
