San Francisco-based blockchain company Ripple has officially announced its acquisition of Standard Custody, a regulated platform specializing in digital assets.
This acquisition is a part of Ripple's broader strategy to comply with regulatory standards while aiming to enhance its product range and enter new markets.
The move shows the growing trend of institutional adoption of blockchain and cryptocurrency,.
Through this deal, Ripple aims to expand its collection of regulatory licenses, which already includes a New York BitLicense and money transmitter licenses across nearly 40 U.S. states.
Regulatory compliance and expansion
With the acquisition of Standard Custody, Ripple is set to add a series of regulatory licenses to its portfolio, emphasizing its focus on compliance within the fast-evolving digital asset landscape.
This strategic move is intended to support the growing need for institutional-grade blockchain and cryptocurrency solutions that are secure, compliant, and capable of facilitating a variety of financial transactions.
The integration of Standard Custody’s licenses into Ripple’s regulatory framework aims to solidify the company’s standing in the market and enhance its ability to offer tokenization, storage, and value transfer services.
Other recent acquisitions
Ripple's approach to growth includes a series of strategic acquisitions, such as the purchase of Metaco and Fortress Trust, which highlight the company's intent to broaden its services beyond its core payment solutions.
These acquisitions, alongside partnerships with financial institutions like HSBC, BBVA, and Zodia Custody, are part of Ripple's efforts to maintain its relevance and competitiveness in the global blockchain and cryptocurrency markets.
By focusing on both payments and custody services, Ripple seeks to cater to a wide range of regulatory jurisdictions and payment corridors worldwide.
Denys Serhiichuk
Godfrey Benjamin
Tomiwabold Olajide
