Ripple has applied for the 'Ripple Custody' trademark and may expand its encryption custody business. Ripple Labs has filed a trademark application for 'Ripple Custody.' According to the application documents, this trademark covers Financial Service, including the storage and management of encryption assets to meet financial management needs. This trademark application follows the launch of custody services by Ripple in October 2024, indicating that the company is seeking to expand its sources of income beyond payment Settlement.
In addition, the trademark application also mentions "downloadable encryption currency, legal currency, virtual currency, and digital currency custody, transmission, and storage software", which may indicate that Ripple is considering launching an official encryption Wallet. Currently, the company has not yet provided official Wallet services, but if launched, the product may support XRP and other digital assets, and create new sources of revenue through transaction fees. A Ripple spokesperson declined to comment on the trademark application.
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Ripple applies for custody and Wallet trademarks, or expands encryption custody business
Ripple has applied for the 'Ripple Custody' trademark and may expand its encryption custody business. Ripple Labs has filed a trademark application for 'Ripple Custody.' According to the application documents, this trademark covers Financial Service, including the storage and management of encryption assets to meet financial management needs. This trademark application follows the launch of custody services by Ripple in October 2024, indicating that the company is seeking to expand its sources of income beyond payment Settlement. In addition, the trademark application also mentions "downloadable encryption currency, legal currency, virtual currency, and digital currency custody, transmission, and storage software", which may indicate that Ripple is considering launching an official encryption Wallet. Currently, the company has not yet provided official Wallet services, but if launched, the product may support XRP and other digital assets, and create new sources of revenue through transaction fees. A Ripple spokesperson declined to comment on the trademark application.