Ripple Files Trademark for Crypto Custody, Expands Services

Ripple Labs has submitted a trademark application for the term "Ripple Custody," signaling the company's intention to expand its brand into the crypto custody sector. The filing outlines four potential uses for the trademark, including financial services related to the custody of cryptocurrencies for financial management purposes. This move comes as the demand for secure storage and management of digital assets has surged, particularly following the approval of exchange-traded funds (ETFs) in the US in 2024. Major players in this space include Coinbase, Citi, and BNY Mellon, among others.

The trademark application follows Ripple's launch of its custody service in October 2024, which aimed to diversify the company's revenue streams beyond its payment settlement service. The filing suggests that Ripple may be planning to introduce a cryptocurrency wallet, either to support its native token, XRP, or a broader range of digital assets. Currently, Ripple does not offer a crypto wallet, and the addition of this service could provide another revenue stream by collecting transaction fees. Companies already offering support for XRP and other cryptocurrencies include Ledger and Trezor hardware wallets, Trust Wallet, and Exodus, among others.

Another use case listed in the trademark filing is for downloadable software designed for the custody, transmission, and storage of cryptocurrency, fiat currency, virtual currency, and digital currency. This indicates that Ripple could be developing a wallet app to enhance the security and convenience of storing digital assets. The filing of this trademark suggests that Ripple is committed to entering the crypto wallet market and is taking steps to protect its intellectual property in this area.

Ripple's recent trademark filings have generated interest among industry observers and investors. The potential launch of a crypto wallet and custody services could attract new investors to Ripple's offerings. This strategic move by Ripple aims to expand its market share in the cryptocurrency space and provide a more comprehensive suite of services to its users. The company's focus on custody services aligns with the growing demand for secure and reliable storage solutions in the cryptocurrency market.

In summary, Ripple's trademark filings for "Ripple Custody" and downloadable software indicate the company's plans to launch a crypto wallet and offer digital asset custody services. This move is part of Ripple's broader strategy to expand its offerings in the cryptocurrency space and provide a comprehensive solution for users looking to store their cryptocurrencies securely. The potential launch of these services could drive fresh investor interest in Ripple's offerings and position the company as a leader in the crypto storage and management space.