Ripple files trademark application for custody service, wallet
The trademark application shows four use cases for the word mark, including for “downloadable software for custody of cryptocurrency.”
Ripple Labs has filed a trademark application for the word mark “Ripple Custody,” indicating that the company behind the XRP (XRP) token is considering expanding its brand in the crypto custody space.
The filing notes four use cases for the word mark, including one that reads “Financial services, namely, custodial services in the nature of maintaining storage and possession of cryptocurrency […] for financial management purposes.”
Crypto custodians store and manage digital assets for individuals and institutions, aiming to minimize risks such as private key loss and security breaches. The demand for custody services has grown significantly in recent years, especially following the approval of exchange-traded funds (ETFs) in the US in 2024. Major players in this space include Coinbase, Citi and BNY Mellon, among others.