Ripple Labs has just filed a trademark application for "Ripple Custody," suggesting an expansion into the crypto custody sector by the company behind the XRP token.
The application describes four potential uses of the trademark, including custodial services for cryptocurrency storage and possession for financial management.
Cryptocurrency custodians manage digital assets for individuals and institutions to mitigate risks such as loss of private keys and security breaches.
This trademark registration comes after Ripple launched its custodian service in October 2024, aiming to diversify its revenue beyond payment settlement.