Ripple has acquired Swiss-based digital asset custody and tokenization tech firm Metaco for $250 million. The acquisition aims to expand Ripple’s enterprise offerings and provide its customers with technology for custody, issuance, and settlement of tokenized assets.
Facts
- Ripple acquires Swiss-based digital asset custody and tokenization tech firm Metaco for $250 million.
- The acquisition allows Ripple to expand its enterprise offerings and offer customers technology for custody, issuance, and settlement of tokenized assets.
- Metaco will benefit from access to Ripple’s base of “hundreds” of customers, new capital, and vast resources, which will accelerate its growth trajectory.
- Custody is a crucial aspect of the infrastructure required for enterprise crypto services, and the acquisition strengthens Ripple’s product solutions in supporting real-world use cases across all phases of adoption.
- Ripple will become the sole shareholder of Metaco, which will continue operating as an independent brand and business unit.
- Metaco’s founder and CEO, Adrien Treccani, will continue leading the company.
- Ripple CEO Brad Garlinghouse sees the acquisition as monumental for Ripple’s growing product suite and expanding global footprint
