Ripple, a crypto services company, announced on Monday its acquisition of Palisade, a crypto wallet and custody firm, to enhance institutional offerings by integrating Palisade’s wallet-as-a-service into Ripple Custody for banks and Ripple Payments.
The acquisition targets fintechs, crypto-native firms, and corporates as part of Ripple’s strategy to support their entry into cryptocurrency markets. Ripple president Monica Long stated, “Corporates are poised to drive the next massive wave of crypto adoption.” She elaborated, “Just as we’ve seen major banks go from observing to actively building in crypto, corporates are now entering the market, and they need trusted, licensed partners with out-of-the-box capabilities.” This move follows the U.S. Securities and Exchange Commission’s decision to drop its long-running legal case against Ripple, allowing the company to accelerate expansions in trading, stablecoins, and crypto treasury services.
Palisade’s wallet-as-a-service will integrate directly into Ripple Custody, Ripple’s dedicated arm for providing secure custody solutions to financial institutions such as banks. This integration enables these institutions to offer comprehensive crypto custody services to their clients, including secure storage and management of digital assets. Beyond custody, the wallet technology will incorporate into Ripple Payments, the company’s cross-border payments platform. Here, it will deliver core infrastructure specifically for handling subscription payments and collection capabilities, streamlining recurring transactions in cryptocurrency.
@palisadeinc has been acquired by @Ripple 🎉
Our wallet-as-a-service platform will help power Ripple's next-gen custody and payments infrastructure, bringing our technology to businesses worldwide. Same team, now at enterprise scale.
This is just the beginning 🚀 pic.twitter.com/G1en6AySYz
— Palisade (@palisadeinc) November 3, 2025
The enhanced tools from this acquisition support high-speed use cases essential for institutional adoption. These include crypto-to-fiat on-ramps and off-ramps, which facilitate seamless conversions between cryptocurrencies and traditional fiat currencies. The system also accommodates multiple blockchains, allowing interactions across various networks without fragmentation. Furthermore, it enables direct engagement with decentralized finance protocols, permitting users to participate in lending, borrowing, and other DeFi activities through integrated interfaces.
Ripple’s acquisition of Palisade contributes to a total expenditure of approximately $4 billion on crypto company acquisitions, with the majority of larger deals completed this year. On the same Monday, Ripple revealed that its U.S. institutional clients will now access over-the-counter transactions for multiple cryptocurrencies. This development stems from the $1.25 billion acquisition of Hidden Road, a crypto-friendly prime broker, finalized in April. Hidden Road’s infrastructure provides institutional-grade trading and clearing services, expanding Ripple’s capabilities in wholesale cryptocurrency markets.
In October, Ripple purchased GTreasury, a provider of crypto treasury management systems, for $1 billion. GTreasury’s platform assists public companies in managing cryptocurrency holdings, including accounting, reporting, and risk management features tailored to digital assets. This acquisition positions Ripple to benefit from the increasing number of public companies incorporating cryptocurrencies into their balance sheets.
Additionally, in August, Ripple agreed to acquire Rail, a stablecoin payments platform, for $200 million, with the transaction set to close in the fourth quarter of the year. Rail specializes in facilitating payments using stablecoins, which maintain stable value pegged to fiat currencies, enhancing efficiency in cross-border and domestic transactions.
