- Ripple’s new trademark filing for “Ripple Custody” has sparked speculation that the company is developing a cryptocurrency wallet or custody service.
- Ripple’s trademark filing and legal deadlines suggest a new product or announcement soon.
Heightened speculation has spread through the crypto community following the discovery of Ripple’s latest trademark filing, “Ripple Custody.” Crypto enthusiast King Karan brought the filing to light via an X post, sparking a flurry of discussion about the potential entry into the cryptocurrency storage and wallet space.
The application, filed under the category of downloadable software, strongly hints Ripple is developing a dedicated custody solution, raising the question: is a user-friendly wallet app on the horizon?
The possibility of a Ripple-branded wallet has ignited excitement. Many enthusiasts believe this move signals an expansion of Ripple’s services.
The company has recently emphasized its custody solutions, and integrating these into a readily accessible wallet could be a game-changer for both individual users and institutions.
One crypto member noted Ripple’s past involvement with an XRP wallet, raising questions about the company’s renewed interest in this niche.
On the other hand, others suggest Ripple’s future plans extend beyond cryptocurrencies, hinting at a potential platform for managing real-world assets (RWAs).
This aligns with the growing demand for RWA tokenization, a field where Ripple and the XRP Ledger (XRPL) are already big players.
The response from XRP supporters has been overwhelmingly positive. One user likened Ripple to a force of nature, while another hailed the move as “great news for crypto enthusiasts.” The potential for a custody service backed by Ripple is seen as a major step toward increased adoption, improved accessibility, and greater user control over digital assets.
A Ripple custody service could also solidify XRP’s position in the market. Known for its speed and efficiency in cross-border transactions, XRP’s transaction finality within seconds and minimal fees have made it a favorite among institutions.
Ripple’s established track record in regulatory compliance, demonstrated by the successful launch of its stablecoin RLUSD, could act as a stepping stone. By applying stringent compliance standards to its custody solution, Ripple could build trust with regulators and users alike.
related to this, we earlier reported that Ripple’s Chief Technology Officer, David Schwartz, confirmed that the Ripple USD (RLUSD) stablecoin could be frozen or reversed to meet legal and regulatory requirements.
The timeline for this potential new product is also generating buzz. Attorney Jeremy Hogan explained that once the trademark office grants an Allowance of Use, Ripple will have six months to advertise and launch the service. He noted
You’ll know what it’s all about before the end of the summer probably.
This timeline suggests an official announcement or product reveal could occur within the next few months.
Meanwhile, XRP is swapping hands with $2.34 marking a 1.99% surge in the past 24 hours. Additionally, the digital asset holding the 4th position with a 2.05% surge in its market cap has recorded a $3.71B in its 24 hour trading volume.
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