Ripple diversifies into crypto custody with $250m Metaco acquisition

Ripple diversifies into crypto custody with $250m Metaco acquisition

In a landmark deal, Ripple, the titan in enterprise blockchain and crypto solutions, has acquired Metaco, a Swiss-based firm known for its robust digital asset custody and tokenisation technology.

This deal, worth $250m, marks a pivotal juncture in Ripple’s business expansion, paving the way for fresh revenue opportunities.

Ripple’s motivation behind this acquisition lies in its aspiration to infiltrate the burgeoning institutional crypto custody market, a sector projected to reach a staggering $10trn by 2030. Both firms share a history of developing secure, enterprise-grade solutions alongside regulated entities, embodying a solid crypto DNA.

Ripple has earned its reputation primarily through its flagship payment products, tackling cross-border payment issues using blockchain and cryptocurrency technologies. Initially focused on overcoming the toughest challenges in this space, Ripple has since broadened its product range to accommodate new use cases such as liquidity management and tokenisation, even venturing into Central Bank Digital Currencies (CBDCs). Serving hundreds of customers across six continents and over 55 countries, Ripple’s global footprint is undeniable.

Metaco, meanwhile, offers a secure, versatile custody infrastructure that is vital for institutions seeking to scale new business models within the crypto economy. Its principal product, Harmonize, has become the go-to standard for digital asset custody and tokenisation infrastructure. Trusted by some of the world’s largest global custodians, top-tier banks, and other financial institutions, Metaco’s services have an international reach, including Switzerland, Germany, Turkey, France, the UK, the US, Singapore, Australia, Hong Kong, and the Philippines.

Through this acquisition, Ripple aims to expand its enterprise offerings by providing customers with the technology to custody, issue, and settle any type of tokenised asset. Metaco, in turn, is expected to significantly boost its growth trajectory, leveraging Ripple’s established customer base and financial resources to cater to new demand and continue to serve banking and institutional clients effectively. Post-acquisition, Ripple will hold sole shareholder rights to Metaco, which will continue to operate as an independent entity under the leadership of founder and CEO, Adrien Treccani.

CEO of Ripple, Brad Garlinghouse, praised Metaco as a proven leader in institutional digital asset custody, adding that this acquisition is a monumental step in enhancing Ripple’s growing product suite and global outreach. Echoing these sentiments, Monica Long, President at Ripple, stressed the firm’s unique positioning to address the anticipated growth in the institutional crypto custody market. Adrien Treccani, Metaco’s CEO, expressed his excitement about joining forces with Ripple and accelerating the delivery of value to their clients.

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