Ripple is enhancing its position in the digital asset custody arena with a recent trademark application for “Ripple Custody” submitted to the United States Patent and Trademark Office (USPTO).
This application, filed on February 25, is still awaiting an examiner’s assignment.
The filing is in line with Ripple’s overarching strategy to tap into the rapidly expanding custody market, anticipated to surpass $20 trillion as more institutions adopt digital assets.
Ripple has already made considerable investments to strengthen its custody solutions, including the acquisition of Metaco and Standard Trust—both influential players in the field—aimed at enhancing its capacity to offer secure and scalable asset storage options.
Ripple Custody
The trademark application indicates that Ripple Custody will offer both downloadable and cloud-based software designed to protect cryptocurrencies and traditional currencies.
This venture seeks to provide safe storage, transmission, and management capabilities for both digital and conventional assets.
In addition to its software offerings, Ripple is positioning itself as a full-fledged custodial service tailored for institutional clients.
The filing also includes plans for a peer-to-peer network for electronic data transmission and a Software-as-a-Service (SaaS) framework, enabling financial institutions to store, manage, and transfer fiat, virtual, and digital assets through online channels.
These enhancements are set to bolster Ripple Custody’s existing infrastructure, which already employs robust security features such as Multi-Party Computation (MPC) and Hardware Security Modules (HSM).
The current service also provides 24/7 secure settlement, tokenization of real-world assets (RWA), and seamless asset transfers.
Moreover, it integrates with DeFi and Web3 applications, broadening its attractiveness to institutional investors looking for increased engagement in digital finance.
Ecosystem Development
This move into custodial services comes alongside other strategic developments for Ripple.
The company has recently obtained regulatory approval from the Dubai Financial Services Authority (DFSA), marking it as the first blockchain-based payment provider to receive such recognition.
Simultaneously, Ripple’s ongoing legal confrontation with the US Securities and Exchange Commission (SEC) may be nearing a resolution.
Reports suggest that the SEC is contemplating whether to classify XRP as a commodity, a decision that would have significant implications for the token’s regulatory status.
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