Ripple Labs has filed a trademark application for the word mark “Ripple Custody,” indicating its interest in expanding into the crypto custody space. The application outlines four potential use cases, including downloadable software for the custody of cryptocurrencies and custodial services aimed at securely storing and managing digital assets. The demand for these services has increased notably since the approval of exchange-traded funds (ETFs) in the US in 2024, with major players like Coinbase and Citi already established in this market. Additionally, the application suggests Ripple might be launching a crypto wallet to support various digital assets, which could generate revenue through transaction fees. Currently, Ripple does not provide a crypto wallet, making this potential move significant for the company's revenue diversification strategy following its earlier product launch in October 2024. A Ripple spokesperson has refrained from commenting on the trademark filing.

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