Ripple Labs, the company behind XRP, has filed a trademark application for “Ripple Custody,” signaling a potential expansion into the crypto custody market. The filing, submitted to the United States Patent and Trademark Office (USPTO), suggests that Ripple is positioning itself as a player in the growing digital asset storage sector.
Trademark Filing Details
According to the application, Ripple intends to use the “Ripple Custody” mark for various financial services, including custodial services for cryptocurrency storage and management. The filing describes its purpose as maintaining the storage and possession of digital assets for financial management, a move that aligns with the increasing demand for secure crypto custody solutions.
Crypto Custody Market Heats Up
Crypto custodians provide secure storage for individuals and institutions, protecting digital assets from risks such as private key loss and security breaches. The sector has gained significant traction, particularly after the approval of Bitcoin ETFs in the U.S. in 2024, which intensified the need for regulated custody solutions.
Ripple would be entering a competitive space dominated by major players such as Coinbase, Citi, and BNY Mellon, all of which have already established themselves in the institutional custody market.
Ripple’s Custody Push Started in 2024
The trademark application follows Ripple’s official entry into the custody space in October 2024, when the company launched a digital asset custody service as part of its strategy to diversify revenue beyond cross-border payments.
Despite the new filing, a Ripple spokesperson declined to comment on the company’s latest move. However, the trademark suggests that Ripple is actively strengthening its foothold in crypto infrastructure beyond its traditional focus on payments and liquidity solutions.
