San Francisco-based blockchain firm Ripple has submitted an application for the 'Ripple Custody' trademark with the USPTO, covering software for securing cryptocurrencies and fiat currencies.
Trademark Review Process and Possible Challenges
The review of the trademark application by the USPTO may take several months. The process involves checking for existing similar trademarks, which could lead to rejection. Until the review is complete, Ripple’s custody software remains without official brand protection.
Ripple's Expansion in Custody Segment
This trademark application indicates Ripple's move into the custody segment. In 2023, the company invested $250 million to acquire Swiss-based Metaco, strengthening its position in the custody business. In October 2024, Ripple launched a 'bank-grade' custody service to enhance asset security.
Previous Trademark Filings and Business Strategy
Last year, Ripple applied for multiple trademarks, including 'Ripple Payments', 'RLUSD', and 'Ripple USD'. The latest filing underscores the company's focus on digital asset security and enterprise blockchain solutions. Ripple awaits the USPTO's decision on whether the trademark will be approved.
Ripple continues to strategically enhance its asset custody strategy while awaiting the USPTO's decision on the trademark application, setting the stage for future innovations.
