Ripple Acquires Metaco, a Crypto Custody Firm, for $250 Million

2023-5-18 17:33

Ripple Acquires Swiss Crypto Custody Provider Metaco for $250 Million

Blockchain company Ripple has made a significant move by acquiring the Swiss-based crypto custody provider Metaco for a sum of $250 million. This acquisition aims to expand Ripple’s range of services by incorporating Metaco’s technology for custody, issuance, and settlement of tokenized assets. Metaco is renowned for offering secure and vital custody infrastructure to its customers, enabling institutions to explore new business models within the crypto economy.

Ripple’s decision to diversify into custody solutions presents new revenue opportunities for the company. Moreover, the acquisition aligns with Ripple’s broader strategy of expanding its global presence beyond the United States, given the uncertain regulatory landscape it faces. Ripple and several of its executives had been embroiled in a lawsuit filed by the U.S. Securities and Exchange Commission in 2020, relating to the unregistered sale of approximately $1.3 billion worth of XRP tokens.

Brad Garlinghouse, the CEO of Ripple, estimated that the legal battle would cost the company around $200 million. He also cautioned crypto entrepreneurs against establishing their businesses in the United States. In a recent development, the judge overseeing the Ripple lawsuit ruled that the regulator cannot seal documents related to a 2018 speech on crypto and securities by former official William Hinman.

The acquisition of Metaco was financed through a combination of cash and Ripple equity, as confirmed by a company spokesperson. Brad Garlinghouse expressed confidence in Metaco’s leadership and track record, stating, “Metaco is a proven leader in institutional digital asset custody with an exceptional executive team and an unmatched customer track record.” As part of the acquisition, Ripple will become the sole shareholder of Metaco, while allowing the latter to continue operating independently under the leadership of its CEO, Adrien Treccani.

Сообщение Ripple Acquires Metaco, a Crypto Custody Firm, for $250 Million появились сначала на Coinstelegram.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Emerald Crypto (EMD) на Currencies.ru

$ 0.0095806 (+7.58%)
Объем 24H $0
Изменеия 24h: 2.35 %, 7d: -7.78 %
Cегодня L: $0.0086651 - H: $0.0095806
Капитализация $183.154k Rank 1690
Доступно / Всего 19.117m EMD / 32m EMD

million ripple custody 250 metaco crypto acquires

Источник: coinstelegram.com

million ripple → Результатов: 126


Фото:

TechCrunch Founder Praises Ripple After Sending XRP Worth $50 Million in 2 Seconds Spending only 30 Cents

Love it or hate it, it’s just not possible anymore to dismiss the influence of Ripple and XRP on the global payment industry. That’s exactly the sentiment one can infer from TechCrunch founder Michael Arrington’s recent remark that it is possible to move XRP worth $50 million in only two seconds, and that too at […] TechCrunch Founder Praises Ripple After Sending XRP Worth $50 Million in 2 Seconds Spending only 30 Cents was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-10-21 16:29


Can Digital Asset Regulation Help Countries Improve The Crypto Market

Digital Asset Regulation Can Help Countries Improve The Market Ripple released an article in which they talk about how digital asset regulation could improve the crypto and financial market. Back in 2014, the popular cryptocurrency exchange Mt Gox went bankrupt after being attacked and losing more than $460 million dollars of Bitcoins. At that moment, […]

2018-10-20 18:35


Today’s Top Cryptocurrency Headlines and Bitcoin News from the Blockchain World (October 6)

[Whoa] Ripple's Blockchain Ledger Sees 150 Million XRP Coins Move in New Mega-Transaction [Whoa] Ripple's Blockchain Ledger Sees 150 Million XRP Coins Move in New Mega-Transaction Epic Games' Fortnite Video Game Could Transition onto Blockchain via MagnaChain Partnership Epic Games' Fortnite Video Game Could Transition onto Blockchain via MagnaChain Partnership Guidepost Solutions CEO Security Expert: […]

2018-10-7 23:59


Ripple For Good Commits $105 Million in Donations to Enhance Education and Financial Literacy

Ripple for Good has been making some serious differences in the world, in the past as well as right now. It's been announced by the Ripple team that its corporate social impact program will be supporting mission-driven organizations and initiatives with the hope of increasing the level of financial inclusion we currently see across the […]

2018-9-27 22:05


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru