- Ripple acquires Metaco for $250M, marking its audacious entry into crypto custody services.
- The deal includes tools for tokenized assets’ custody, issuance, and settlement by Ripple.
- Despite Ripple’s sole ownership, Metaco will operate independently, with Adrien Treccani as CEO.
Ripple, the San Francisco-based crypto trailblazer, has acquired Swiss firm Metaco for a staggering $250 million. This acquisition heralds Ripple’s foray into the domain of crypto custody services, specifically geared towards institutional investors, reflecting its continuing expansion and innovative approach.
This highly strategic acquisition, funded through a fusion of cash and Ripple equity, places Ripple as Metaco’s exclusive shareholder. However, it’s important to note that Metaco will retain its unique identity, continuing to function under its established brand. The firm’s founder and CEO, Adrien Treccani, will retain his leadership role, driving the business forward.
Metaco is a proven leader in institutional digital asset custody with an exceptional executive bench and a truly unmatched customer track record, said Brad Garlinghouse, CEO of Ripple.
In line with Ripple’s vision of reshaping the financial landscape, this deal extends beyond a simple acquisition. The company is set to offer its clientele an advanced suite of tools, designed for the custody, issuance, and settlement of tokenized assets, as articulated in their announcement.
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This acquisition, therefore, is not merely an expansion but also a testament to Ripple’s commitment to transforming the financial industry. Through strategic partnerships and innovative technology, Ripple persistently paves the way for an era where financial services are not just digitized but also democratized. Their acquisition of Metaco serves as a powerful reminder of their unwavering pursuit to revolutionize the industry, one audacious move at a time.
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