Blockchain technology firm Ripple has acquired crypto wallet provider Palisade, further solidifying its aggressive strategy to become a dominant force in institutional digital asset infrastructure and global payments.
The acquisition, announced Monday, aims to strengthen Ripple’s institutional offerings for payments and digital asset custody. Palisade’s “wallet-as-a-service” platform will integrate into Ripple Custody, a product serving banks and corporations that manage digital assets, stablecoins, and tokenized real-world assets.
Palisade’s technology provides tools for high-speed, high-frequency use cases. These include on-ramps and off-ramps for funds, as well as enterprise payment flows.
These systems enable the rapid creation and deployment of secure wallets. They are designed to interact across multiple blockchains and decentralized finance (DeFi) protocols.
Ripple President Monica Long highlighted the technical capabilities of Palisade. She explained the choice was due to the firm’s robust infrastructure and its capacity to integrate with the growing stable payment ecosystem.
Long added that Palisade offered the best set of capabilities to complement Ripple Payments. This service has seen substantial growth this year due to the proliferation of stablecoin payments.
The acquisition is part of Ripple’s broader effort to build a crypto-native financial infrastructure. This infrastructure aims to serve as an alternative to traditional systems.
Ripple’s vision encompasses cross-border payments, liquidity, stablecoin issuance, and institutional custody.
The company currently holds over 75 regulatory licenses worldwide. Its technology is already utilized by international banks such as BBVA, DBS, and the crypto division of Société Générale.
Ripple is targeting clients who require dynamic and global operations. This includes fintech companies needing to create instant wallets for new users and corporations managing international treasuries with diverse digital assets.
The Palisade deal follows a series of strategic acquisitions by Ripple. In 2023, the company acquired Swiss custody firm Metaco.
This year, Ripple also purchased Hidden Road, now rebranded as Ripple Prime, for an estimated $1.25 billion. It further acquired stablecoin payments company Rail for $200 million and treasury technology provider GTreasury.
These purchases consolidate Ripple’s position as a leading firm in digital asset infrastructure for financial institutions. The global financial industry continues its shift toward adopting tokenized solutions and decentralized payment systems.
Integrating Palisade expands Ripple’s capacity to offer large-scale services. It marks a significant step toward its goal of becoming the premier provider of blockchain-based financial infrastructure.