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{"id":32431,"date":"2023-05-17T21:46:57","date_gmt":"2023-05-17T21:46:57","guid":{"rendered":"https:\/\/scienceandnerds.com\/2023\/05\/17\/ripple-acquires-crypto-custody-startup-metaco-for-250-million\/"},"modified":"2023-05-17T21:46:58","modified_gmt":"2023-05-17T21:46:58","slug":"ripple-acquires-crypto-custody-startup-metaco-for-250-million","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2023\/05\/17\/ripple-acquires-crypto-custody-startup-metaco-for-250-million\/","title":{"rendered":"Ripple acquires crypto custody startup Metaco for $250 million"},"content":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/05\/17\/ripple-acquires-crypto-custody-startup-metaco-for-250-million\/<\/a><\/br>
\nRipple acquires crypto custody startup Metaco for $250 million<\/br>
\n2023-05-17 21:46:57<\/br><\/p>\n

\n

Ripple has announced that it has acquired<\/a> Metaco, a cryptocurrency custody company based in Switzerland, for $250 million in cash and Ripple equity. With this move, Ripple will expand its offerings as it will now be able to custody, issue and settle any type of tokenized asset.<\/p>\n

\u201cMetaco is a proven leader in institutional digital asset custody with an exceptional executive bench and a truly unmatched customer track record,\u201d Ripple CEO Brad Garlinghouse said in a statement. \u201cThrough the strength of our balance sheet and financial position, Ripple will continue pressing our advantage in the areas critical to crypto infrastructure. Bringing on Metaco is monumental for our growing product suite and expanding global footprint.\u201d<\/p>\n

Ripple is the company behind the Ripple payment protocol that uses XRP as its native cryptocurrency. Ripple has been working with traditional finance companies so that they can integrate crypto and blockchain into their infrastructure. While Ripple and XRP are technically separate entities, Ripple still owns a large amount of XRP tokens.<\/p>\n

In 2020, Ripple and its team faced a lawsuit<\/a> from the U.S. Securities and Exchange Commission due to the nature of XRP token sales. The SEC argued that XRP is a security and it should have been registered with the commission. It\u2019s worth noting that Ripple and a handful of executives generated more than $1.38 billion from sales of the XRP token.<\/p>\n

With today\u2019s announcement, Ripple is diversifying its activities. Metaco has been working with institutional customers to provide them several enterprise-grade solutions, such as custody, orchestration, trading and more.<\/p>\n

Following today\u2019s transaction, Metaco will continue to operate as an independent brand and business unit \u2014 but Metaco now has a new owner. It could indicate that Ripple wants to use its balance sheet to build a portfolio of cryptocurrency-focused companies and bounce back from the SEC feud.<\/p>\n<\/p><\/div>\n

<\/br><\/br><\/br><\/p>\n

Tech, Technology<\/br>
\n<\/br>
\nSource:https:\/\/techcrunch.com\/2023\/05\/17\/ripple-acquires-crypto-custody-startup-metaco-for-250-million\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/05\/17\/ripple-acquires-crypto-custody-startup-metaco-for-250-million\/ Ripple acquires crypto custody startup Metaco for $250 million 2023-05-17 21:46:57 Ripple has announced that it has acquired Metaco, a cryptocurrency custody company based in Switzerland, for $250 million in cash and Ripple equity. With this move, Ripple will expand its offerings as it will now be able to custody, issue and settle any […]<\/p>\n","protected":false},"author":1,"featured_media":32432,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[17,8],"tags":[],"class_list":["post-32431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech","category-technology"],"yoast_head":"\nRipple acquires crypto custody startup Metaco for $250 million - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2023\/05\/17\/ripple-acquires-crypto-custody-startup-metaco-for-250-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ripple acquires crypto custody startup Metaco for $250 million - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source:https:\/\/techcrunch.com\/2023\/05\/17\/ripple-acquires-crypto-custody-startup-metaco-for-250-million\/ Ripple acquires crypto custody startup Metaco for $250 million 2023-05-17 21:46:57 Ripple has announced that it has acquired Metaco, a cryptocurrency custody company based in Switzerland, for $250 million in cash and Ripple equity. With this move, Ripple will expand its offerings as it will now be able to custody, issue and settle any […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/scienceandnerds.com\/2023\/05\/17\/ripple-acquires-crypto-custody-startup-metaco-for-250-million\/\" \/>\n<meta property=\"og:site_name\" content=\"Science and Nerds\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-17T21:46:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-17T21:46:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/scienceandnerds.com\/wp-content\/uploads\/2023\/05\/ripple-acquires-crypto-custody-startup-metaco-for-250-million_64654b520023a.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"730\" \/>\n\t<meta property=\"og:image:height\" content=\"389\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/scienceandnerds.com\/2023\/05\/17\/ripple-acquires-crypto-custody-startup-metaco-for-250-million\/\",\"url\":\"https:\/\/scienceandnerds.com\/2023\/05\/17\/ripple-acquires-crypto-custody-startup-metaco-for-250-million\/\",\"name\":\"Ripple acquires crypto custody startup Metaco for $250 million - 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