Partnership news continues to come from Ripple, which won a major victory in its legal battle with the SEC.
At this point, Ripple (XRP) recently announced that it has acquired the cryptocurrency wallet firm Palisade.
Ripple said it will expand its enterprise custody and payments business with the acquisition of Palisade.
Ripple Doesn’t Stop!
Continuing its corporate expansion, Ripple has acquired cryptocurrency wallet and custody company Palisade as part of its efforts to expand its corporate payments business.
Ripple stated that the Palisade acquisition will allow it to expand its storage capacity to serve fintechs, cryptocurrency firms, and corporations. However, Ripple did not disclose the details of the Palisade acquisition.
Ripple Labs President Monica Long stated that the acquisition is expected to increase the stability of Ripple Payments and improve payment speeds.
“Institutions are poised to drive the next big wave of crypto adoption. The combination of Ripple’s bank-grade vault and Palisade’s fast and 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.”
Ripple also added that it has made numerous acquisitions this year, including Hidden Road for $1.25 billion and stablecoin platform Rail for $200 million. To this point, Ripple said in the statement that it has “invested approximately $4 billion in the crypto ecosystem” through investments, mergers, and acquisitions.
Last month, Ripple acquired GTreasury for $1 billion, aiming to unlock the multitrillion-dollar corporate treasury market and gain access to the largest and most successful institutional clients.
Ripple also recently noted that Palisade has deep integrations with XRP, Solana (SOL), and Ethereum (ETH).
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/ripple-xrp-expands-corporate-payments-business-new-acquisition-agreement-announced-solana-and-ethereum-details-also-included/
