Ripple is enhancing its crypto custody capabilities by acquiring UK-based digital asset wallet and custody company, Palisade.
Founded in 2022, Palisade offers a lightweight “wallet-as-a-service” technology that integrates Multi-Party Computation (MPC) and zero-trust architecture, featuring fast wallet provisioning, multi-chain support, and DeFi integration.
This acquisition allows Ripple to cater to a wider range of customers and use cases, providing an out-of-the-box solution suited for high-frequency transactions, as well as on- and off-ramps for payments.
Monica Long, Ripple’s president, stated: “Corporates are poised to drive the next massive wave of crypto adoption 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.”
This deal marks Ripple’s fourth major acquisition in the digital assets space this year, following the acquisition of prime broker Hidden Road, stablecoin payments platform Rail, and treasury management system provider GTreasury, totaling $4 billion.
Details of the Palisade transaction have not been disclosed.