Ripple acquires custody and wallet technology company Palisade

Jinse Finance reported that Ripple announced on Monday the acquisition of custody and wallet technology company Palisade, aiming to expand its “custody capabilities” for fintech companies, crypto-native enterprises, and large corporations. This year, Ripple has invested approximately $4 billion through multiple mergers and acquisitions, including the $1.25 billion acquisition of trading broker Hidden Road in April, the $200 million acquisition of stablecoin platform Rail, and last month’s $1 billion acquisition of enterprise treasury management platform GTreasury. Ripple stated that Palisade’s fast and lightweight wallet, combined with its bank-grade vault, will create an end-to-end institutional-grade custody service, covering long-term asset storage, real-time global payments, and enterprise treasury management.