[Ripple Acquires Palisade to Expand Institutional-Grade Custody Services]
Ripple has announced the acquisition of custody and wallet technology company Palisade, aiming to enhance its custody capabilities for fintech companies, crypto-native enterprises, and large corporations. This year, Ripple has invested approximately $4 billion through multiple acquisitions, including the $1.25 billion acquisition of Hidden Road in April, the $200 million acquisition of Rail, and last month's $1 billion acquisition of GTreasury. Ripple stated that Palisade's lightweight wallet combined with bank-grade vault technology will provide end-to-end institutional-grade custody services, covering long-term asset storage, global payments, and corporate financial management.