Ripple files trademark for Ripple Custody service in crypto market
Ripple explores сrypto сustody
Ripple Labs, the company best known for its XRP token, has filed a trademark application for the term “Ripple Custody,” suggesting an expansion of its brand into the rapidly growing crypto custody sector.
The application outlines four potential use cases, one of which focuses on “custodial services in the nature of maintaining storage and possession of cryptocurrency for financial management purposes.” Although the company has offered custody services since October 2024, this trademark filing indicates a more formal commitment to diversify its offerings beyond cross-border payments.
A move toward custodial solutions
Cryptocurrency custody has become a critical function in the digital asset ecosystem. It addresses risks such as private key loss and hacking attempts, ensuring secure asset management for both individuals and institutional investors. Demand for such services has grown significantly, especially after U.S. regulators approved various crypto exchange-traded funds (ETFs) in 2024, drawing traditional finance giants like Coinbase, Citi, and BNY Mellon into the space. Ripple’s interest in filing a trademark for custody could reflect an ambition to carve out a larger share of this market.
Hints at a Ripple wallet
Another noteworthy detail in the trademark application suggests “downloadable software for custody of cryptocurrency, fiat currency, virtual currency, and digital currency.” This language implies the possibility that Ripple may develop its own cryptocurrency wallet to store and transmit not only XRP but also other digital assets. Such an offering would diversify Ripple’s revenue streams, potentially capturing transaction fees and appealing to users looking for an integrated suite of crypto services.
As the crypto industry matures, the role of trusted custody and wallet services continues to expand. Ripple’s latest trademark filing signals that it aims to be part of this evolution, potentially bolstering its influence within the digital asset market. Observers will be watching closely to see whether the company moves forward with a proprietary wallet or further enhances its custody platform.
Additionally, the legal process in the Ripple case is nearing resolution, and XRP may be classified as a commodity.
