Digital & Technology

Crypto Company Ripple acquires Metaco for USD250M

Ripple, the leader in enterprise blockchain and crypto solutions, has announced it has acquired Metaco, a Swiss-based provider of digital asset custody and tokenization technology. Diversifying into custody solutions is a milestone in Ripple’s business and product strategy, bringing new revenue opportunities to the company.

Ripple and Metaco share strong crypto DNA, top-tier institutional customers, and a long history of working with regulated entities to create secure enterprise-grade solutions. With this acquisition, Ripple will expand its enterprise offerings, providing customers with the technology to custody, issue, and settle any type of tokenized asset. Metaco will dramatically accelerate its growth trajectory through access to Ripple’s established base of hundreds of customers, capital to address new demand, and resources to continue delivering on its commitment to banking and institutional clients.

 

“Metaco is a proven leader in institutional digital asset custody with an exceptional executive bench and a truly unmatched customer track record,” said Brad Garlinghouse, CEO of Ripple. “Through 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.”

 

Best known for its payments products, Ripple was the first company to address the multi-trillion dollar pain points in cross-border payments utilizing blockchain and cryptocurrency. The company focused on solving the hardest problems – such as building blockchain-enabled payments infrastructure from the ground up – before expanding its product offerings to address new use cases like liquidity management and tokenization, including Central Bank Digital Currencies (CBDCs). Today, Ripple serves hundreds of customers in over 55 countries and 6 continents with payout capabilities in 70+ markets.

Metaco offers secure and versatile mission-critical custody infrastructure for institutions to scale new business models in the crypto economy. Its primary offering Harmonize is the institutional standard for digital asset custody and tokenization infrastructure, chosen by the world’s largest global custodians, top-tier banks, financial institutions and corporates. Metaco’s technology solutions are currently offered across various jurisdictions, including Switzerland, Germany, Turkey, France, the United Kingdom, the United States, Singapore, Australia, Hong Kong and the Philippines, among others.

Ripple will become the sole shareholder of Metaco, which will continue to operate as an independent brand and business unit led by Founder and CEO Adrien Treccani.