Ripple, the San Francisco-based blockchain company, has entered the crypto custody industry with the acquisition of Swiss digital asset custody provider Metaco. This purchase would open the path for customers to custody, issue, and settle any type of tokenized asset.
Metaco, known for its secure enterprise-grade solutions, is expected to harness Ripple’s customer base and financial resources to accelerate its growth and maintain its commitment to banking and institutional clients.
Ripple CEO Brad Garlinghouse expressed excitement over the purchase, emphasizing its importance for the company’s growth trajectory. “Metaco is a proven leader in institutional digital asset custody, with a distinct executive team and an unrivaled buyer monitoring record,” Garlinghouse stated.
He also emphasized on the congruence between Ripple and Metaco in terms of a shared contract with enterprise utility, regulatory compliance, and a global-first approach in a series of tweets.
Harmonise, Metaco’s main product, is an institutional standard for digital asset custody and tokenization infrastructure.
The company’s know-how alternatives are available in several jurisdictions, including Switzerland, Germany, Turkey, France, the United Kingdom, the United States, Singapore, Australia, Hong Kong, and the Philippines, amongst others.
Garlinghouse’s assessment of Ripple’s direction was upbeat, despite the crypto market’s recent upswing. “I’m emerging from one of many coldest crypto winters, but I’m extremely bullish on Ripple’s trajectory,” he tweeted. Every day, we’re thinking about the long-term possibility of crypto usefulness, putting our money/minds behind that purpose, and collaborating with others that share that vision.”
