Ripple Labs has filed a trademark application for "Ripple Custody," signaling an expansion into the crypto custody space.
The trademark application, filed on Feb. 25, outlines four key use cases, including “custodial services in the nature of maintaining storage and possession of cryptocurrency […] for financial management purposes.”
Crypto custody services are becoming increasingly important, especially following the approval of Bitcoin ETFs in the U.S. in 2024. Major financial institutions like Coinbase, Citi, and BNY Mellon have already established their presence in this space, providing secure storage solutions for institutions and individuals. Ripple’s move suggests it is looking to enter this competitive market.
The filing also hints at a possible crypto wallet launch. One section describes “downloadable software for custody of cryptocurrency, fiat currency, virtual currency, and digital currency; downloadable software for transmission and storage of cryptocurrency, fiat currency, virtual currency, and digital currency.” This suggests Ripple may introduce a wallet to support XRP and other digital assets, potentially generating revenue from transaction fees.
Ripple previously launched a custody service in October 2024, aiming to diversify its business beyond payments. The new trademark filing appears to be a continuation of that strategy.
According to Justia Trademarks, Ripple’s filing falls under multiple international classifications, including financial affairs (Class 036), telecommunications (Class 038), and software development (Class 042). The application is currently marked as "New Application - Record Initialized Not Assigned To Examiner."
While Ripple has yet to confirm any wallet plans, the filing suggests the company is preparing to expand its infrastructure for digital asset management.
Ripple did not respond to TheStreet Crypto’s request to comment.
Meanwhile, the SEC’s five-year lawsuit against Ripple is reportedly nearing its conclusion, with negotiations underway for a settlement more favorable than the $125 million fine imposed in 2023.
