Ripple Labs, the company behind the popular XRP token, has recently filed a trademark application for the term “Ripple Custody.” This move suggests that the company is looking to expand its brand into the crypto custody space.

The trademark filing lists four potential use cases for the term, including offering custodial services for cryptocurrency storage and management for financial purposes. This is a significant development as the demand for crypto custody services has been on the rise, especially since the approval of exchange-traded funds (ETFs) in the US in 2024. Major players in this space include Coinbase, Citi, and BNY Mellon.

The filing comes after Ripple’s launch of its own custody service in October 2024, which aimed to diversify its revenue streams beyond its payment settlement service. However, a Ripple spokesperson declined to comment on the trademark filing.

One of the listed use cases in the filing also suggests that Ripple may be planning to launch a cryptocurrency wallet. This could potentially support its native token, XRP, or a wider range of digital assets. Currently, the company does not offer a crypto wallet, so this move could provide another source of revenue through transaction fees.

Other companies already offering support for XRP and other cryptocurrencies include Ledger and Trezor hardware wallets, Trust Wallet, Exodus, and many others. With the growing popularity of digital assets, it would not be surprising for Ripple to enter the crypto wallet market.

In a related development, Ran Neuner, the host of Crypto Banter, recently called Ripple “despicable” in a recent episode. However, he also acknowledged the success of ZachXBT, a popular crypto trader, and tipped his hat to him in the “Hall of Flame” segment.

In conclusion, Ripple’s trademark application for “Ripple Custody” and the potential launch of a crypto wallet could be significant moves for the company. It shows their commitment to expanding their brand and services in the ever-growing crypto industry.