5 months ago
Ripple is advancing its presumption successful integer plus custody with a trademark filing for “Ripple Custody” astatine the United States Patent and Trademark Office (USPTO).
The application was submitted connected Feb. 25 but has yet to beryllium assigned to an examiner.
The filing aligns with Ripple’s broader strategy to grow into the rapidly increasing custody sector, which is projected to transcend $20 trillion arsenic organization adoption accelerates.
Ripple has already made important investments to bolster its custody offerings. The steadfast acquired Metaco and Standard Trust, 2 cardinal players successful the industry, to heighten its quality to supply unafraid and scalable plus retention solutions.
Ripple Custody
According to the trademark filing, Ripple Custody volition diagnostic downloadable and cloud-based bundle to safeguard cryptocurrencies and fiat currencies.
This inaugural aims to present unafraid storage, transmission, and absorption of integer and accepted assets.
Beyond software, Ripple is positioning itself arsenic a broad custodial work supplier tailored for organization clients.
The filing outlines a peer-to-peer web for physics information transmission and a Software-as-a-Service (SaaS) exemplary that enables fiscal institutions to store, manage, and transportation fiat, virtual, and integer assets done online platforms.
These tools would greatly amended Ripple Custody’s existent infrastructure, which already incorporates high-security measures, including Multi-Party Computation (MPC) and Hardware Security Modules (HSM).
The existent work besides offers 24/7 unafraid settlement, real-world plus (RWA) tokenization, and seamless plus transfers.
Additionally, it integrates with DeFi and Web3 applications, expanding its entreaty to organization investors seeking greater vulnerability to integer finance.
Ecosystem growth
This custodial propulsion coincides with different strategical advancements for Ripple.
The institution precocious secured regulatory approval from the Dubai Financial Services Authority (DFSA), making it the archetypal blockchain-based outgo supplier to person specified recognition.
Meanwhile, Ripple’s ongoing ineligible conflict with the US Securities and Exchange Commission (SEC) could soon beryllium resolved.
Reports bespeak that the SEC is considering whether to classify XRP arsenic a commodity, a determination that could importantly interaction the token’s regulatory outlook.
The station Ripple files trademark for ‘Ripple Custody’ successful integer plus enlargement drive appeared archetypal connected CryptoSlate.
English (US) 