Ripple Labs Files Trademark for Ripple Custody

According to Odaily, Ripple Labs has filed a trademark application for 'Ripple Custody.' The application outlines financial services related to the storage and management of crypto assets, aimed at meeting financial management needs. This move follows the launch of Ripple's custody services in October 2024, indicating the company's intention to diversify its revenue streams beyond payment settlements. The trademark application also mentions 'downloadable software for the custody, transfer, and storage of cryptocurrencies, fiat currencies, virtual currencies, and digital currencies,' suggesting that Ripple may be considering the introduction of an official crypto wallet. Currently, the company does not offer an official wallet service, but if launched, the product could support XRP and other digital assets, potentially generating new revenue through transaction fees.