.Ripple has acquired Swiss-based crypto custody provider metaco_sa for $250 million to expand into crypto custody and strengthen its presence beyond the U.S. By willcanny99 and BrandyBetz.
Blockchain firm Ripple has acquired Swiss-based crypto custody provider Metaco for $250 million, the company said in a statement on Wednesday.
The purchase will allow Ripple to expand its offerings by incorporating the technology to custody, issue, and settle tokenized assets. Metaco offers customers crucial and secure custody infrastructure, allowing institutions to scale new business models in the crypto economy. Diversifying into custody solutions will bring new revenue opportunities, Ripple said, adding that the acquisition is part of its strategy to broaden its presence beyond the U.S and its uncertain regulatory landscape.
In 2020, Ripple and some of its executives faced a lawsuit from the U.S. Securities and Exchange Commission regarding the unregistered sale of approximately $1.3 billion worth of XRP tokens.
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