Partnership news continues from Ripple, which won a major victory in its legal battle with the SEC.
At the moment, Ripple (XRP) recently announced that it has acquired cryptocurrency wallet company Palisade.
Ripple announced that it will expand its corporate custody and payments business with the acquisition of Palisade.
The ripples don’t stop!
As the company continues to expand, Ripple has acquired crypto wallet and custodian company Palisade as part of its efforts to expand its corporate payments business.
Ripple said the acquisition of Palisade will allow it to expand its storage capacity to serve fintechs, crypto companies, and enterprises. However, Ripple did not disclose details of the Palisade acquisition.
Monica Long, President of Ripple Labs, said that the acquisition is expected to increase the stability of Ripple Payments and increase the speed of payments.
“Institutions are poised to drive the next big wave of cryptocurrency adoption. By combining Ripple’s bank-grade safes with Palisade’s fast and lightweight wallets, Ripple Custody becomes an end-to-end provider for all institutional needs, from long-term storage to real-time global payments and treasury management.”
Ripple also added that it has made a number of acquisitions this year, including Hidden Road for $1.25 billion and stablecoin platform Rail for $200 million. To date, Ripple has “invested approximately $4 billion into the cryptocurrency ecosystem” through investments, mergers and acquisitions, the company said in a statement.
Last month, Ripple acquired GTreasury for $1 billion, aiming to unlock the multi-trillion dollar corporate bond market and gain access to the largest and most successful institutional investors.
Ripple also recently noted that Palisade is tightly integrated with XRP, Solana (SOL), and Ethereum (ETH).
*This is not investment advice.
