Ripple's Latest Acquisition: Palisade Enhances Digital Asset Custody

Ripple has announced the acquisition of Palisade, a provider of digital asset wallet and custody solutions. This move significantly expands Ripple’s custody capabilities, targeting not just banks and financial institutions but also fintech startups and other corporate entities.

Palisade specializes in a “wallet-as-a-service” approach, enabling speedy transactions and seamless integration into existing frameworks. Their technology features include:

MPC-based key sharding
Zero-trust architecture
Multi-chain support
Rapid wallet provisioning
DeFi connectivity

About the Acquisition

With this acquisition, Ripple aims to enhance its support for various use cases that demand quick settlements, such as high-frequency payments and subscription billing solutions. Palisade’s technology will be integrated directly into Ripple Payments to facilitate optimal value mobilization.

In an official statement, Monica Long, President of Ripple, stated:

“Secure digital asset custody unlocks the crypto economy and is the foundation that every blockchain-powered business stands on – that’s why it’s central to Ripple’s product strategy. Corporates are poised to drive the next massive wave of crypto adoption.” Translation: Secure digital asset custody is pivotal for the crypto economy.

Ripple’s Strategy

Over the past year, Ripple has reinforced its digital asset custody efforts, forming links with companies like Chainalysis and Elliptic for improved compliance and risk management. The company boasts over 75 regulatory registrations worldwide. Recent acquisitions include the purchase of Hidden Road (now Ripple Prime), and partnerships with other crypto infrastructure firms, amounting to approximately $4 billion in investments into this sector.

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