US-based crypto company Ripple has acquired Swiss crypto custody firm Metaco in a $250 million deal.
With this acquisition, Ripple will expand its enterprise offerings providing customers the technology to custody, issue, and settle any type of tokenised asset.
With access to Ripple’s solid customers base, purse strings and resources, Metaco is expected to be on the path to a strong growth trajectory.
“Metaco is a proven leader in institutional digital asset custody with an exceptional executive bench and a truly unmatched customer track record,” said Brad Garlinghouse, CEO of Ripple. “Through the strength of our balance sheet and financial position, Ripple will continue pressing our advantage in the areas critical to crypto infrastructure. Bringing on Metaco is monumental for our growing product suite and expanding global footprint.”
Metaco offers custody infrastructure for institutions to scale new business models in the crypto economy. Its Metaco’s technology solutions are currently offered across various jurisdictions, including Switzerland, Germany, Turkey, France, the United Kingdom, the 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 with the help of our core infrastructure and expertise, and we are delighted to join forces with the team at Ripple, who share that passion. This deal will enable Metaco to leverage Ripple’s scale and market strength to reach our goals and deliver value to our clients at a faster pace. We look forward to continuing to serve unprecedented levels of institutional demand with the utmost excellence in delivery, as our clients have come to expect,” says Adrien Treccani, Founder and CEO at Metaco.
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