Ripple Labs has filed a trademark for “Ripple Custody,” indicating plans to enter the crypto custody market. This filing includes four specific use cases, hinting at future offerings, including a cryptocurrency wallet.

The demand for crypto custodians has rapidly increased, especially following the 2024 approval of US ETFs. Companies like Coinbase and Citi have intensified competition in this area, prompting Ripple’s entry.

The trademark application suggests Ripple’s strategy could involve supporting a variety of cryptocurrencies, not just its native XRP. This could enhance its service offerings in the growing digital asset space.