This acquisition is part of Ripple’s larger acquisition spree and focus on building enterprise custody and compliance tools, following the recent finalisation of the purchase of institutional prime broker Hidden Road (rebranded as Ripple Prime).
Ripple Labs has acquired crypto wallet provider Palisade to bolster Ripple Custody, its toolkit for banks and corporates managing digital assets, stablecoins, and tokenised real-world assets.
This integration will allow the firm to create wallets at scale and high-speed transaction signing, as well as sweeping funds efficiently into operational accounts, basically allowing Ripple to handle programmatic treasury flows and recurring payment collection.
The news follows the purchase of Hidden Road, an institutional prime broker, a deal announced earlier this year and finalised last week, as Crypto News Australia reported. It was relaunched and rebranded as Ripple Prime, pushing Ripple’s business into professional trading.
Ripple’s Acquisition Spree
Ripple has been building enterprise custody and compliance tooling over the past year. It added integrations with Chainalysis and Elliptic for monitoring and risk analytics and now holds more than 75 regulatory registrations globally.
Ripple Labs President Monica Long said the acquisition strengthens the firm’s ability to support customers that need secure wallets spun up instantly and value moved quickly across chains.
The integration targets fintechs and large corporations that need instant wallet creation and global treasury controls, hence why Palisade’s wallet-as-a-service will let clients spin up secure wallets quickly for high-throughput uses such as on-/off-ramps, enterprise payment flows, and programmatic treasury.
The technology will plug directly into Ripple Payments, and the stack supports multiple blockchains and can even connect to DeFi protocols.
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