Ripple Seeks to Trademark Custody Service and Wallet Solution

Ripple Files Trademark Application for Custody Service, Wallet

Ripple, the blockchain payments company, has filed a trademark application for a custody service and wallet, according to a recent filing with the United States Patent and Trademark Office (USPTO).

The application, filed on January 27, seeks to register the mark "Ripple Custody" for a range of financial services, including custody services, digital currency exchange services, and digital currency wallet services.

The filing suggests that Ripple is looking to expand its offerings beyond its core business of providing a global network for cross-border payments using the XRP cryptocurrency. The company has already made significant strides in the payments space, partnering with major financial institutions and banks to facilitate international transactions.

A custody service would allow Ripple to provide a secure and compliant solution for institutions to store and manage their digital assets, potentially attracting a wider range of clients and increasing its revenue streams.

The application notes that Ripple Custody will offer a range of services, including custody, storage, and management of digital assets, as well as the ability to transfer and exchange those assets. The company is seeking to register the mark for use in connection with financial services, including digital currency exchange services and digital currency wallet services.

Ripple's move into the custody space comes as the digital asset market continues to grow, with more institutions and individuals looking to invest in and manage their digital assets. The company is well-positioned to capitalize on this trend, leveraging its existing expertise in blockchain and digital payments to provide a comprehensive solution for institutions.

The USPTO will now review Ripple's application to determine whether the mark is likely to cause confusion with other existing trademarks. If approved, Ripple will be granted a trademark registration, which will give the company a legal right to use the mark in commerce.