The unstoppable Ripple – The crypto company Ripplebased in San Francisco, is taking a bold step into the world of crypto custody by acquiring Metacoa Swiss startup, for the sum of $250 million. This decision marks a strategic expansion of Ripple in Europe and in crypto custodial services for investors institutional.
Institutions: Ripple’s favorite prey
This acquisition is of major importance for Ripple, as it responds to the growing demand from institutional investors in the crypto industry. In doing so, with the acquisition of MetacoRipple aims to offer state-of-the-art solutions for the custody, issuance and settlement of tokenized assets, in order to satisfy the specific needs of this clientele.
In detail, this $250 million dealfunded by a combination of cash and Ripple equity, as The Block newspaper explains to us, gives Ripple the status ofsole shareholder of Metaco. However, Metaco will continue to operate as a standalone brand, with its founder and CEO, Adrian Treccaniat its head.
On his side, Metaco, founded in 2015, is recognized as a leader in the custody of institutional digital assets. Her diverse clientele includes global custodians, major banks, financial institutions and other reputable companies.
Metaco is best known for its flagship product, Harmonizewhich offers a complete solution for:
- Custody of cryptocurrencies;
- The purchase and sale of cryptocurrencies;
- Tokenization;
- Staking.
While Metaco already has a solid presence on several international marketssuch as Switzerland, Germany, Turkey, France, UK, USA, Singapore, Australia, Hong Kong and Philippines, Ripple account of clients in more than 55 countries and can offer its payment services on more than 70 markets in the whole world. This union between Ripple and Metaco will therefore extend their aura and consolidate their position as leaders within the crypto ecosystem.
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An alliance for a 10 trillion dollar market by 2030
Monica Longthe president of Ripple, further underlined the importance of this acquisition by stating:
“Ripple was uniquely positioned to meet the growing demand for institutional crypto custody, which is expected to reach nearly $10 trillion by 2030.”
This optimistic vision bears witness to the trust of the two companies in thefuture of the crypto industry and its commitment to providing innovative solutions for institutional investors.
For its part, Ripple also welcomes this partnership, as expressed by Brad GarlinghouseCEO of Ripple:
“Metaco is a recognized leader in the custody of institutional digital assets with an exceptional leadership bench and a truly unrivaled client track record (…) The arrival of Metaco is monumental for our growing product line and our global footprint in expansion. »
The announcement of this acquisition comes as Ripple is still engaged in a years-long legal dispute with the Securities and Exchange Commission (DRY) the United States. Indeed, the SEC has accused Ripple to have lifted $1.3 billion thanks to the sale of the XRP token, leading to lawsuits against CEO Brad Garlinghouse and co-founder Christian Larsen. Despite this ongoing feud, Ripple remains confident about its prospects, and the acquisition of Metaco is a testament to Ripple’s determination to continue to innovate and position itself as a major player in the crypto industry. And this, whatever his detractors say.
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