Ripple expands its horizons with the acquisition of Metaco

Metaco is a crypto custody company for financial institutions based in Switzerland. The company specializes in the development of advanced technology. The latter promotes secure and efficient storage and management of cryptos. Metaco counts notable companies such as Citi, BNP Paribas and Société Générale among its clients. That said, thanks to the crypto custodian, Ripple has just entered the acquisition space.

Ripple acquires Metaco to expand its institutional offering

Ripple, which is at the center of a heated debate over the centralization of XRP, has just acquired Metaco. He announced that he bought the custodian for $250 million. The operation will make the XRP token issuer the sole shareholder of Metaco. Under the terms of the acquisition agreement, the custodian still retains its independent brand identity. He can also continue his activities without interruption.

Ripple indicated that the new acquisition has great significance for its development. Indeed, the operation will allow it to accelerate the process of expanding its institutional offer. Moreover, it should help the issuer of XRP to strengthen its position in the crypto market. With Metaco’s expertise and technology, the company will be able to enhance its capabilities in providing secure crypto custody solutions.

Ripple CEO expects an increase in institutional demand

Brad Garlinghouse, CEO of Ripple, recently suggested that there will be a spike in demand for cryptos from institutional investors. In this context, he expects childcare needs to increase.

Ripple’s CEO has explained : “ Focusing on infrastructure […], we are not really subject to the same upheavals associated with bear market periods. If you ultimately solve a clear problem at scale for these customers, there will be demand. “.

Brad Garlinghouse clarified that Metaco is based in Switzerland and has a workforce of non-US employees. This is an added bonus for the custodian in the current US crypto crackdown. The anti-crypto measures adopted by US regulators have also scared off several crypto companies. The Bittrex exchange is one of the last to file for bankruptcy against the dreaded SEC. Also, other companies like Coinbase are looking to expand into more regulated regions like the EU and the UK.

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