Ripple Acquires Swiss Blockchain Custodial Firm Metaco For $250 Million – Cryptopolitan
Geneva, Switzerland – In a strategic move to further strengthen its position in the blockchain industry, Ripple, the leading global provider of enterprise blockchain solutions, today announced its acquisition of Swiss-based crypto custodian company Metaco for a staggering $250 million. This acquisition not only strengthens Ripple’s market presence, but also reinforces its commitment to promoting innovation and security within the digital asset ecosystem.
Ripple is creating alliances and expanding its offerings
ripple, The creator of the payment network of the same name and the XRP token, announced on May 17 that it had acquired Metaco, a Swiss digital asset and tokenization provider, for $250 million. Ripple predicts that the institutional crypto custody market will reach $10 trillion by 2030. In addition, the research shows that “the majority of global CFOs at financial institutions” intend to implement crypto custody solutions within the next three years.
Metaco will dramatically accelerate its growth trajectory through access to Ripple’s established base of hundreds of customers, capital to meet new demand and resources to continue delivering on its commitment to banking and institutional customers.
Under the terms of the agreement, Ripple will fully integrate Metaco’s advanced infrastructure and expertise into its existing suite of services, allowing customers to securely manage and store their digital assets. The acquisition of Metaco is poised to revolutionize the way crypto custody solutions are perceived and used.
Metaco: Pioneers in blockchain storage solutions
Founded in 2015, Metaco quickly established itself as a leading player in crypto custody, offering cutting-edge solutions to protect digital assets. The company’s proprietary platform, SILO, combines robust security protocols with advanced encryption algorithms, ensuring the highest level of protection against cyber threats.
Ripple CEO Brad Garlinghouse stated that the two companies already share common goals in developing business value, regulatory compliance and a global outlook. Therefore, he is confident that the partnership will provide “the best possible experience” for business customers.
Garlinghouse ended the thread by alluding to the imminent end of the crypto winter and saying that XRP is now well positioned to realize its long-term vision.
This landmark acquisition places the crypto entity at the forefront of the evolving crypto custody landscape, strengthening its competitive edge over other blockchain providers. By integrating Metaco’s expertise, Ripple aims to set new industry standards by establishing a secure and efficient custody solution for a wide range of digital assets, including cryptocurrencies, stablecoins and non-fungible tokens (NFTs).
Metaco’s founder and CEO, Adrien Treccani, stated that the deal would enable the company to leverage Ripple’s “scale and market power” to better serve its customers. Treccani will continue to lead the company, and Metaco will continue to operate as a separate brand.
We look forward to continuing to serve unprecedented levels of institutional demand with the utmost excellence in delivery, as our customers have come to expect.
As Ripple continues to lead the charge in shaping the future of global finance, the acquisition of Metaco marks a significant milestone in the company’s journey. By combining forces, Ripple and Metaco have paved the way for unprecedented advancements in digital assets, streamlined operations and fostered increased trust in blockchain technology.
This acquisition not only strengthens XRP’s market position, but also confirms their commitment to providing secure and efficient solutions that meet the evolving needs of customers.