Ripple Hints at Big Custody Plans in New Job Offer

San Francisco-based blockchain company Ripple has recently posted a new job opening at Metaco, a firm it acquired for $250 million in May last year. 

The job posting, which seeks an experienced enablement engineer in New York, showcases Ripple's commitment to developing world-class custody infrastructure tailored for tier 1 institutions. 

Expanding custody solutions for institutional investors

Metaco, now under Ripple's wing, is pioneering in the creation of security-critical infrastructure that allows financial institutions to venture into the digital asset ecosystem confidently. 

With a client roster that includes heavyweights like Citi, BNP Paribas, and Societe Generale's digital asset arm, Metaco's mission is to deliver robust, scalable, and integrated solutions. 

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The new role focuses on onboarding clients onto the Harmonize platform, ensuring they can leverage Metaco's products and services effectively. 

This move is indicative of Ripple's broader strategy to cater to the burgeoning demand from institutional investors for reliable crypto custody services.

A strategic acquisition 

Ripple's acquisition of Metaco not only signifies its expansion into the custody space but also represents a strategic maneuver to navigate the complex regulatory landscape of the cryptocurrency market. 

By integrating Metaco's technology and expertise, Ripple aims to offer its clients a secure and compliant way to manage digital assets. This is particularly crucial in light of the increasing scrutiny from U.S. regulators on crypto firms. 

Last year, Ripple CEO Brad Garlinghouse emphasized the importance of focusing on infrastructure to mitigate the volatility associated with cryptocurrencies. He outlined the company's long-term vision that prioritizes stability and compliance over rapid market fluctuations.