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Ripple Makes New Acquisition: Details

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Wed, 17/05/2023 - 13:45
Ripple Makes New Acquisition: Details
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Ripple, the San Francisco-based blockchain firm, has announced its foray into the crypto custody market via the acquisition of Swiss digital asset custody provider Metaco. This acquisition will pave the way for customers to custody, issue and settle any type of tokenized asset.

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Metaco, with its reputation for secure enterprise-grade solutions, is expected to leverage Ripple's customer base and financial resources to expedite its growth and continue its commitment to banking and institutional clients.

Ripple CEO Brad Garlinghouse expressed enthusiasm about the acquisition, emphasizing its significance for the company's growth trajectory. "Metaco is a proven leader in institutional digital asset custody with an exceptional executive bench and a truly unmatched customer track record," Garlinghouse stated.

In a series of tweets, he further elaborated on the alignment between Ripple and Metaco in terms of a shared focus on enterprise utility, regulatory compliance and a global-first mindset.

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Metaco's flagship product, Harmonize, is an institutional standard for digital asset custody and tokenization infrastructure.

The company's technology solutions span numerous jurisdictions, including Switzerland, Germany, Turkey, France, the U.K., the U.S., Singapore, Australia, Hong Kong and the Philippines, among others.

Garlinghouse's comments on Ripple's trajectory exuded optimism despite the recent tough times for the crypto market. He tweeted, "Coming out of one of the coldest crypto winters yet, I’m incredibly bullish about Ripple’s trajectory. Every day we’re thinking about the long-term opportunity of crypto utility, putting our money/minds behind that mission, and partnering with folks who share that vision."

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