Ripple Labs has filed a trademark application for “Ripple Custody,” suggesting that the company behind XRP is preparing to expand into the crypto custody sector. The filing to the United States Patent and Trademark Office (USPTO), outlines various services related to digital asset storage and security.

According to the trademark application, Ripple Custody would provide financial custody services, including storing and safeguarding cryptocurrencies, fiat, and virtual assets. The filing also mentions the development of downloadable software for managing, storing, and transmitting digital currencies. 

In addition, it includes provisions for peer-to-peer financial transactions, enabling secure electronic transfers of crypto-related financial data. Another aspect of the filing highlights a software-as-a-service (SaaS) component, which would provide online, non-downloadable software for digital asset custody and storage.

The trademark application, registered under serial number 99056495, is currently under review, with Olivia Maria Baratta of Kilpatrick Townsend & Stockton LLP listed as the legal representative. 

The demand for secure custodial services has surged as institutional investors seek reliable solutions for managing digital assets. Companies like Coinbase, Citi, and BNY Mellon have already established themselves in this field, offering institutional-grade storage solutions to mitigate risks such as private key mismanagement and cybersecurity threats. 

Ripple’s filing indicates a potential push to compete in this sector, possibly integrating custody services into its existing blockchain-based financial solutions.

While the trademark filing does not guarantee an immediate product launch, it signals Ripple’s intent to expand its brand into digital asset security. If the company follows through, Ripple Custody could provide regulated and secure storage solutions for both retail and institutional investors, aligning with evolving regulatory standards and market needs.

Ripple has yet to issue an official statement regarding Ripple Custody, but the trademark application suggests a strategic shift toward bolstering its offerings in institutional digital asset management.

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