Two top executives of Swiss-based cryptocurrency custody provider Metaco have reportedly departed the firm less than a year after landing an acquisition deal with blockchain solutions company Ripple.
According to a CoinDesk report citing a Ripple spokesperson, Adrien Treccani, Metaco’s founder and CEO, and CPO Peter DeMeo have left the firm. Metaco is yet to announce the employees who will fill in those roles.
Metaco CEO and CPO Leave Firm
Metaco has not revealed the reason for the departure of its CEO and CPO, but speculators believe the Ripple deal may have raised the need for a leadership transition.
Ripple acquired the custody firm in May 2023 for $250 million, a deal marking the blockchain company’s expansion into the growing institutional crypto custody market. Ripple looked forward to ramping up its enterprise offerings while providing the technology for users to custody, issue, and settle any tokenized assets. Metaco leveraged Ripple’s large customer base and capital to a
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