cryptonews.net
Blockchain company Ripple has filed an application to register the name “Ripple Custody” in the United States. Based on the information provided in the application, Ripple is currently working on downloadable and cloud-based software that will allow cryptocurrency and fiat currencies to be secured. The application has already been received and registered, but the United States Patent and Trademark Office (USPTO) has not yet appointed an examiner to review it.
It can take several months for a trademark application to be reviewed and approved. The USPTO may reject an application if there is a conflicting trademark. The company has also filed for several new trademarks in the United States in the past year (“Ripple Payments,” “RLUSD,” and “Ripple USD”). The latest trademark application shows that the company is increasingly focusing on its custody business. The company has allocated $250 million to acquire Swiss custody firm Metaco in 2023.
The global cryptocurrency storage market is expected to grow to a whopping $100 billion in less than a decade. In late February, the company teamed up with South Korean custodian bank BDACS to offer storage for XRP and Ripple’s stablecoin USD (RLUSD).
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