TLDRRipple announced the acquisition of digital wallet provider and custody firm Palisade on Monday.The acquisition will expand Ripple’s custody capacity to serve crypto-native firms and financial technology companies better.Palisade’s wallet-as-a-service product offers multi-party computation and multi-blockchain support features.Palisade’s technology will integrate directly into Ripple Custody and Ripple Payments platforms.Ripple acquired prime broker Hidden Road for $1.25 billion in April to serve institutional clients.Ripple announced the acquisition of digital wallet provider Palisade on Monday. The blockchain-based financial technology company aims to expand its custody capacity through this purchase. This move adds to Ripple’s growing portfolio of recent acquisitions in the crypto sector.Ripple Strengthens Custody ServicesThe acquisition will enhance Ripple’s ability to serve crypto-native firms and financial technology companies. Corporate clients will also benefit from the expanded custody capabilities. Ripple President Monica Long stated that secure digital asset custody unlocks the potential of the crypto economy.Long emphasized that custody forms the foundation for every blockchain-powered business. She explained that corporates are poised to drive the next wave of crypto adoption. Major banks have moved from observing to actively building in crypto, and corporates are following suit.Palisade’s wallet-as-a-service product offers features like multi-party computation and multi-blockchain support. These capabilities will integrate directly into Ripple Custody and Ripple Payments. The combination creates an end-to-end solution for institutional clients.Long added that Ripple’s bank-grade vault paired with Palisade’s lightweight wallet addresses every institutional need. The service covers long-term storage, real-time global payments, and treasury management. This integration positions Ripple as a comprehensive custody provider.Recent Acquisitions Expand Ripple’s ServicesRipple has pursued multiple strategic acquisitions throughout the year. In April, the company acquired prime broker Hidden Road for $1.25 billion. This purchase enabled Ripple to serve institutional clients on a broader scale.The Hidden Road acquisition gave prime clients access to dozens of cryptocurrencies in the United States. In August, Ripple acquired Canadian stablecoin platform Rail for $200 million. Two weeks ago, the firm spent $1 billion to acquire treasury management firm GTreasury.Ripple closed a four-year legal battle with the SEC after both parties ended their appeals in August. XRP, the crypto asset linked to Ripple, reached a new all-time high earlier this year. The token climbed above $3.40 for the first time since 2018, hitting $3.65.XRP has since fallen by around 38% to $2.30, but remains the fourth-largest crypto asset. The token maintains a market capitalization of $140.5 billion. Ripple continues to expand its service offerings through strategic acquisitions and partnerships.The post Ripple Secures Palisade Deal as Custody Expansion Plans Accelerate appeared first on Blockonomi.