Veröffentlicht von • Ripple, a payments firm, has just acquired Metaco, an institutional digital assets custody provider for $250 million.
• Metaco’s services include tokenization technology and offer Ripple’s blue-chip clients the ability to custody, issue and settle any type of tokenized asset.
• The purchase sent XRP upwards as it is currently trading for $0.439 at time of writing with a 4.6% increase during the last 24 hours.
Ripple Acquires Metaco
Payments firm Ripple has acquired Swiss-based digital assets custody provider Metaco for $250 million in response to research suggesting that institutional investors plan to heavily incorporate crypto custody services into their business models within the next three years.
Benefits For Both Parties
The fusion of both companies benefits both parties as Metaco’s services would allow Ripple’s blue-chip clients to custody, issue, and settle any type of tokenized asset; while its access to Ripple’s huge customer base will “dramatically accelerate its growth trajectory.”
Ripple CEO Comments
Ripple chief executive Brad Garlinghouse stated in a press release that “Metaco is a proven leader in institutional digital asset custody with an exceptional executive bench and a truly unmatched customer track record…Bringing on Metaco is monumental for our growing product suite and expanding global footprint.“
XRP Price Increases
News of the purchase sent XRP upwards as it is currently trading for $0.439 at time of writing with a 4.6% increase during the last 24 hours.
Conclusion
This nine-figure acquisition from Ripple offers multiple advantages to both firms by allowing them access to each other’s customers and resources, ultimately leading to increased value in XRP prices due to this news announcement.