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Ripple did not disclose the financial terms of its acquisition of Palisade.
Palisade’s wallet-as-a-service (WaaS) product, which offers features such as multi-party computing (MPC) and support for multiple blockchains, will be integrated directly into Ripple Custody, Ripple’s cryptocurrency custody arm aimed at banks.
Palisade’s wallet offering will also be integrated into Ripple Payments, the company’s cross-border payments service, and will “provide the core infrastructure for subscription payments or collections capabilities.”
“Businesses are poised to drive the next massive wave of cryptocurrency adoption,” Ripple President Monica Long said in a statement. “The combination of Ripple’s bank-grade vault and Palisade’s light, fast wallet makes Ripple Custody the end-to-end provider for every institutional need, from long-term storage to real-time global payments and treasury management.”
Ripple has spent $4 billion on acquisitions
Ripple has acquired several companies so far in 2025following the US Securities and Exchange Commission’s dismissal of his long-running lawsuit against the company over the XRP cryptocurrency. The San Francisco-based company revealed on Monday that it has invested “approximately $4 billion into the crypto ecosystem” through investments, mergers and acquisitions.
Ripple purchased the Hidden Road prime corridor (rebranded as Ripple Prime) for $1.25 billion in April. Ripple said earlier on Monday that its US institutional clients would have access to over-the-counter (OTC) trading of multiple cryptocurrencies, including XRP and the RLUSD stablecoin, thanks to the Hidden Road deal, which ended last month.
Ripple also took over stablecoin payments platform Rail in August, in a $200 million deal that is expected to close in the fourth quarter of this year. Last month, the company acquired GTreasury for $1 billion in an effort to capitalize on the multibillion-dollar corporate treasury market.
