The filing includes provisions for software related to the custody, transfer, and storage of cryptocurrencies, fiat currencies, and other digital assets. It also covers financial custodial services aimed at asset management and storage, along with peer-to-peer financial data transmission and Software as a Service (SaaS) solutions for digital asset custody.
The application follows Ripple’s introduction of a custody service in October 2024, reflecting its move beyond payment settlement operations. The increasing demand for secure asset storage, particularly following the approval of spot Bitcoin exchange-traded funds (ETFs) in the United States, has intensified competition in the sector.
Several financial institutions, including Coinbase, Citi, and BNY Mellon, have already established themselves as important players, offering custody solutions designed to mitigate risks such as cyber threats and private key loss.
Ripple officials have not provided any comments regarding the trademark filing. However, the inclusion of custody-related software in the application suggests the company may be developing a cryptocurrency wallet. If launched, such a service could potentially support XRP alongside other digital assets, positioning Ripple in competition with established wallet providers such as Ledger, Trezor, Trust Wallet, and Exodus. The initiative could also create an additional revenue stream through transaction fees.
In March 2025, Ripple received approval from the DFSA to provide regulated crypto payments and services in the DFIC. Following this announcement, the initiative marked Ripple’s first licence in the Middle East, underscoring the firm’s commitment to the region and regulatory compliance across the globe.
The approval also made Ripple’s compliance-first global payments products available for businesses in the UAE region, ensuring a secure suite of solutions for FIs that are looking to leverage the capabilities of digital assets to drive utility.
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