San Francisco-based fintech company Ripple Labs has filed a trademark application for “Ripple Custody.” The revelation has led to speculations that the firm wants to launch a crypto wallet or custodial services.
According to the application, the firm applied for the trademark on February 25. The accompanying statement explaining the term suggests that it will apply to downloaded software, financial services, peer-to-peer network computer services, and cloud software that can be used for the custody, storage, and transmission of cryptocurrencies and fiat currencies.
One of the statement reads:
“Financial services, namely, custodial services in the nature of maintaining storage and possession of cryptocurrency, fiat currency, virtual currency, and digital currency for financial management purposes.”
These statements, which describe the potential application of the term, have led to speculation about what Ripple might be planning in the coming months. Most times, a trademark application such as this suggests that a company is finalizing its plans to unveil a product.
In 2024, Ripple for trademarks for Ripple Payments, RLUSD, and Ripple USD, a few months before launching the RLUSD stablecoin.
Meanwhile, the news of the application has attracted different reactions from the XRP community. Noah Christopher on X believes that Ripple is expanding into custody and payments to boost its adoption, while Faril speculates that the US might rely on Ripple to custody its crypto reserves.
However, some users have noted that a Ripple Custody app already exists in the App Store. It is simply an authenticator app for institutional customers signing transactions using Metaco to custody their assets. Ripple bought the digital asset custody firm Metaco in 2023.
The United States Patent and Trademark Office (USPTO) has already received and acknowledged the trademark application but has not assigned it to an examiner. The approval process for a trademark in the US only takes a few months unless it is contested.
XRP remains in the green despite a turbulent year
While there is no clarity yet on whether Ripple is planning a custody product or has already launched one, its XRP token remains in the only top ten cryptocurrencies by market cap with some gains year-to-date. Per CoinMarketCap data, the token is up more than 1% YTD after losing more than 10% of its value in the past 90 days.
Although this might seem inconsequential, it represents a much better performance than Bitcoin, Ethereum, Solana, BNB, Cardano ADA, DOGE, and Tron TRX, all of which have been down between 14% and 46% since January 2025.
XRP’s positive performance is due to various factors, including the expectation that the Securities and Exchange Commission (SEC) will soon drop the lawsuit against Ripple over the token’s status. With the regulator dropping crypto-related actions against Coinbase, Uniswap, and Robinhood, many believe that Ripple is next.
The market expectations are clearly evident in the Polymarket contract on whether the SEC will approve an XRP exchange-traded fund in 2025. Presently, there is a 75% chance of that approval, with a 5% increase in the last 24 hours alone, showing positive sentiment.
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