Ripple acquires custody and wallet technology company Palisade

Ripple announced on Monday the acquisition of custody and wallet technology company Palisade, aiming to expand its "custody capabilities" for fintech companies, crypto-native enterprises, and large corporations.

This year, Ripple has invested approximately $4 billion through multiple acquisitions, including the $1.25 billion acquisition of brokerage firm Hidden Road, the $200 million acquisition of stablecoin platform Rail, and last month’s $1 billion acquisition of enterprise financial management platform GTreasury. Ripple stated that Palisade's fast, lightweight wallet combined with its bank-grade vault will create end-to-end institutional-grade custody services, covering long-term asset storage, real-time global payments, and enterprise financial management.