Ripple pays $250 million in acquisition of crypto custody firm Metaco

[ad_1]

US crypto firm Ripple has acquired Swiss crypto custody firm Metaco in a $250 million deal.

With this acquisition, Ripple will expand its enterprise offerings by providing customers with the technology to hold, issue and settle any type of tokenized asset.

With access to Ripples’ strong customer base, purse strings, and resources, Metaco should be on a high growth trajectory.

Metaco is a recognized leader in institutional digital asset custody with an exceptional management team and a truly unrivaled customer track record, said Brad Garlinghouse, CEO of Ripple. With our strong balance sheet and financial position, Ripple will continue to drive our edge in critical areas of crypto infrastructure. The arrival of Metaco is monumental for our growing product line and expanding global footprint.

Metaco offers custody infrastructure for institutions to develop new business models in the crypto economy. Its Metacos technology solutions are currently offered in various jurisdictions, including Switzerland, Germany, Turkey, France, United Kingdom, United States, Singapore, Australia, Hong Kong, and the Philippines, among others.

Our mission has always been to enable institutions to thrive in the digital asset economy using our core infrastructure and expertise, and we are thrilled to partner with the team at Ripple who share this passion. . This deal will allow Metaco to leverage the scale and market strength of Ripples to achieve our goals and deliver value to our customers at a faster pace. We look forward to continuing to meet unprecedented levels of institutional demand with the utmost excellence in delivery, as our customers have come to expect,” said Adrien Treccani, Founder and CEO of Metaco.

[ad_2]