Blockchain and crypto fintech Ripple has acquired Metaco as it seeks to break into the growing crypto custody market.
Metaco provides digital asset custody and tokenisation infrastructure to global custodians, banks, corporations and other financial institutions.
Through the acquisition, Ripple’s customers will be able to custody, issue and settle any form of digital asset. In turn, Metaco says it can accelerate its growth through Ripple’s broad client base and access to resources and capital.
Metaco will continue to operate as an independent brand, led by founder and CEO Adrien Treccani.
Commenting on the acquisition, Brad Garlinghouse, CEO of Ripple, says: “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.”
Treccani adds: “Our mission has always been to enable institutions to thrive in the digital asset economy with the help of our core infrastructure and expertise, and we are delighted to join forces with the team at Ripple, who share that passion.
“This deal will enable Metaco to leverage Ripple’s scale and market strength to reach our goals and deliver value to our clients at a faster pace. We look forward to continuing to serve institutional demand with excellence in delivery, as our clients have come to expect.”
