US crypto company Ripple (XRP) to acquire Switzerland-based digital asset custody technology provider Metaco for $250 million. In the statement made by Ripple, it was stated that with the acquisition, the company will expand its corporate solutions that provide technology to store, transfer and exchange all kinds of crypto assets.
It was stated in the statement that Metaco will significantly accelerate its growth through access to Ripple’s customer base, capital to meet new demand, and resources that will continue to fulfill its commitment to its banking and corporate customers, and that the purchase price is $250 million.
Ripple CEO Brad Garlinghouse, whose views were included in the statement, pointed out that Metaco has a proven position in corporate digital asset custody with its executive team and customer history.
Metaco Founder and CEO Adrien Treccani emphasized that their mission is to ensure that institutions are successful in the digital asset economy, and stated that the acquisition agreement will enable Metaco to benefit from Ripple’s scale and market power to achieve its goals and deliver value to its customers faster.
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