Ripple Applies for Custody and Wallet Trademark, Expanding Crypto Custody Business

BlockBeats News, March 18, Ripple Labs has submitted a trademark application for "Ripple Custody." According to the application documents, this trademark covers financial services, including the storage and management of cryptographic assets to meet financial management needs. This trademark application follows closely behind Ripple's launch of custody services in October 2024, indicating that the company is seeking to expand its revenue sources beyond payment settlement.

Furthermore, the trademark application also mentions "downloadable cryptocurrency, fiat currency, virtual currency, and digital currency custody, transfer, and storage software," which may suggest that Ripple is considering launching an official cryptocurrency wallet. Currently, the company has not provided official wallet services, but if launched, this product may support XRP and other digital assets, creating a new revenue stream through transaction fees. A Ripple spokesperson declined to comment on the trademark application.