Ripple Labs has filed a trademark application for the word mark "Ripple Custody." The filing suggests that the company behind XRP may be looking to expand into the crypto custody sector, Cointelegraph reported.

Meanwhile, the XRPUSD H1 chart indicates that the cryptocurrency is trading between two horizontal levels. At the moment, the support level remains intact, and intraday buyers may attempt to drive the price toward the resistance.

Ripple Considers Crypto Custody Amid ETF Growth

The trademark application lists four potential use cases. One of them states: "Financial services, namely, custodial services in the nature of maintaining storage and possession of cryptocurrency […] for financial management purposes."

Crypto custody services help individuals and institutions store and manage digital assets. These services aim to reduce risks such as private key loss and security breaches. The demand for custody solutions has increased, particularly after the approval of US-based exchange-traded funds (ETFs) in 2024. Companies in this space include Coinbase, Citi, and BNY Mellon.

Ripple introduced its custody service in October 2024. The company said at the time that the move was part of a strategy to generate revenue beyond its payment settlement operations. A Ripple spokesperson declined to comment on the trademark filing.

Possible Crypto Wallet Development

The filing also references software related to custody services. One section describes "downloadable software for custody of cryptocurrency, fiat currency, virtual currency, and digital currency." It also includes software for "transmission and storage" of these assets.

This wording suggests that Ripple may be considering a cryptocurrency wallet. Such a product could support XRP or a broader range of digital assets. The company does not currently offer a wallet. If introduced, it could provide a new revenue stream through transaction fees.

Other companies already supporting XRP include Ledger, Trezor, Trust Wallet, and Exodus.

Source: Finance Magnates