Ripple applies for custody and wallet trademarks, or expands crypto custody business

Ripple Labs has filed a trademark application for "Ripple Custody". According to the filing, the trademark covers financial services, including the storage and management of cryptoassets to meet financial management needs. The trademark application follows Ripple's October 2024 launch of custodial services, indicating that the company is seeking to expand its revenue streams beyond payment settlement.
In addition, the trademark application also mentions "downloadable cryptocurrency, fiat currency, virtual currency and digital currency custody, transmission and storage software", which may indicate that Ripple is considering launching an official crypto wallet. At present, the company does not offer an official wallet service, but if launched, the product could support XRP and other digital assets and generate new revenue streams through transaction fees. A Ripple spokesperson did not comment on the trademark application.