Ripple Labs has submitted a trademark application for “Ripple Custody” to show its expansion into the custody field of code.
The trademark application filed on February 25th outlines four important use cases, including “management services in the nature of storage and possession of cryptocurrency (…) for financial management purposes.”
Crypto protection services are becoming increasingly important, especially following the approval of Bitcoin ETFs in the US in 2024. Major financial institutions such as Coinbase, City and BNY Melon have already established a presence in this sector, providing safe storage solutions for institutions and individuals. Ripple’s move suggests they are about to enter this competitive market.
The filing also suggests the possibility of crypto wallet launches. One section states, “Downloadable software for custody of cryptocurrencies, cryptocurrencies, and digital currencies. This suggests that Ripple introduces wallets to support XRP and other digital assets, and may generate revenue from transaction fees.
Ripple previously launched its custody service in October 2024, aiming to diversify its business beyond payments. The filing of the new trademark appears to be a continuation of that strategy.
According to Justia’s trademark, Ripple’s filing falls into multiple international categories, including financial issues (Class 036), telecommunications (Class 038), and software development (Class 042). The application is currently marked as “New Application – Initialized Records Not Assigned to the Examiner.”
Ripple has not yet confirmed its wallet plans, but filing suggests that the company is preparing to expand its infrastructure for digital asset management.
Ripple did not respond to Crypto’s request for comment.
Meanwhile, the SEC’s five-year lawsuit against Ripple is reportedly approaching conclusions, with negotiations ongoing for a settlement that is favorable over the $125 million fine imposed in 2023.