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Ripple acquires Metaco in $250m deal

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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

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