Coinspeaker
Ripple Acquires Swiss Crypto Custody Platform Metaco for $250M as Part of Push toward Tokenization
Ripple has acquired Swiss-based Metaco for $250 million as part of the remittance network’s expansion into institutional crypto custody. The acquisition also comes amid a favorable ruling for Ripple in its ongoing lawsuit with the Securities and Exchange Commission (SEC).
Ripple’s acquisition of Metaco underpins the US-based tech platform’s faith in the tokenization space. Speaking to Decrypt, Ripple’s head of custody Sagar Shah predicts that the institutional crypto custody market will hit $10 trillion by 2030. The company’s Metaco acquisition now sees Ripple prepare for the boom as the sole shareholder of the digital asset custody company. Nonetheless, Metaco would continue operations as an independent brand.
📢 Today, we announce that Metaco becomes part of @Ripple, joining forces in providing exceptional mission-critical software infrastructure solutions
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