Ripple News: Ripple Finalises Palisade Acquisition to Expand Institutional Crypto Services

Ripple acquires crypto custody firm Palisade to strengthen services for banks, fintechs, and corporations. The move expands cross-border payments infrastructure.

Crypto services company Ripple has successfully acquired Palisade. This strategic purchase supports its institutional-focused offerings. The crypto custody and wallet firm has major services to offer. Ripple plans on greatly expanding its business operations. Therefore, the deal signals a high level of commitment toward the corporate crypto market.

Ripple Integrates Palisade Wallet Tech into Ripple Custody and Payments

Furthermore, Ripple announced the acquisition officially on Monday. Palisade’s wallet-as-a-service will become part of Ripple Custody. This crypto custody arm especially goes after the already-established banks. Moreover, the deal is aimed to immediately serve fintechs and crypto-native firms. Corporations will benefit from such integrated solutions, too.

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Monica Long, Ripple President, gave a statement. She is a firm believer that it will be corporations that drive the next massive wave. Indeed, major banks have already begun actively developing in crypto. Hence, there is a need for trusted and licensed partners for corporates now. They need good capabilities out of the box.

In addition, Ripple plans to integrate the wallet solutions of Palisade. They are going to become a part of Ripple Payments, the cross-border service. This new infrastructure will support subscription-based payments. Also, it will provide significantly improved collection capabilities for the clients. This is a useful move for high velocity use cases.

Subsequently, the acquisition adds to Ripple’s overall investment. Crypto company acquisitions now reach around $4 billion. Most of these important deals were concluded within this year. This shows the aggressive growth strategy of Ripple. Clearly, the firm is seeing good potential in this sector.

Ripple Boosts XRP Utility Through Secure Wallet Solutions

Ripple made another important announcement earlier on Monday. U.S. institutional clients will now have access to trading OTC. This is available for a number of cryptocurrencies. Significantly, this is after the $1.25 billion acquisition of Hidden Road. This crypto-friendly prime broker deal was complete in April.

Specifically, Palisade offers safe wallets and trustworthy custody services to Ripple. Users can now safely store and exchange their crypto property. They can also manage their holdings, including the XRP. Furthermore, the platform offers a good support to retail and enterprise clients. Crypto for large organizations can be managed high volume.

Consequently, Palisade’s integration immediately leads to an improvement of Ripple’s operational standards. It also increases more regulatory compliance overall. Adding a trusted custody service is important. In the end, this enhances Ripple’s credibility and security in the competitive market. This demonstrates commitment to global standards.

Unquestionably, such acquisition is a big boost for XRP holders. Safe wallet solutions make it easy to hold and send the asset. As adoption increases, the volume of transactions may increase naturally. Ripple makes XRP a viable digital asset.

Long said Palisade provided the best capabilities. This is a perfect addition to the growing Ripple Payments system. The platform has been developed tremendously this year. Finally, this growth is related to the proliferation of stablecoin payments.

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