Ripple, the global payment protocol and cryptocurrency company, has made a significant move in the crypto space with its recent acquisition of Swiss crypto custody firm Metaco. The deal, valued at $250 million, will enable Ripple to expand its offerings to clients, providing them with advanced tools for custody, issuance, and settlement of tokenized assets.
The acquisition was financed through a combination of cash and Ripple equity, making Ripple the sole shareholder of Metaco, which will continue to operate under its own brand.
With the acquisition of Metaco, Ripple aims to provide its clients with enhanced custody services. Custody is a crucial aspect of the crypto ecosystem, as it involves the secure storage and management of digital assets on behalf of clients. Metaco’s expertise in crypto custody will enable Ripple to offer a robust and secure custody solution, ensuring the safety of clients’ tokenized assets.
The acquisition of Metaco aligns with Ripple’s strategic vision of advancing the adoption and utility of digital assets in the global financial ecosystem. By expanding its offerings to include custody, issuance, and settlement tools for tokenized assets, Ripple is well-positioned to cater to the evolving needs of its clients and the broader market.
