Enterprise blockchain and crypto solutions firm Ripple has acquired Standard Custody & Trust, following the company’s acquisition of Metaco in 2023.
Ripple says the acquisition allows the company to strengthen its existing product offerings, as well as explore new, complementary products.
Through this acquisition, Standard Custody's limited purpose trust charter and its money transmitter licenses aim to contribute to Ripple’s growing portfolio of regulatory licenses.
Monica Long, president of Ripple, says: “Ripple and Standard Custody are dedicated to enabling enterprises to reap the benefits of blockchain across a host of financial use cases building institutional-grade solutions to tokenise, store, move, and exchange value.
“By expanding our licenses portfolio and making smart acquisitions, Ripple is well-positioned to take advantage of the current market opportunities and further strengthen our crypto infrastructure solutions.”
Jack McDonald, CEO of Standard Custody, comments: “Standard Custody provides financial institutions with the confidence and platform to safeguard their digital assets. Ripple continues to lead the industry with its deep crypto expertise, relationships with financial institutions and strong product offerings, across both payments and custody. Together with Ripple, we will further innovate and extend our leadership position in providing crypto infrastructure.”
