Odaily Planet Daily reports that Ripple announced on Monday its acquisition of custody and wallet technology company Palisade, a move aimed at expanding its "custody capabilities" for fintech companies, crypto-native businesses, and large enterprises. This year, Ripple has invested approximately $4 billion through multiple acquisitions, including the $1.25 billion acquisition of trading brokerage Hidden Road in April, the $200 million acquisition of stablecoin platform Rail, and the $1 billion acquisition of corporate financial management platform GTreasury last month.

Ripple states that Palisade's fast, lightweight wallet, combined with its bank-grade vault, will create an end-to-end institutional-grade custody service covering long-term asset storage, real-time global payments, and corporate financial management.