Ripple Acquires Swiss Crypto Custody Startup Metaco for $250M

Ripple has acquired Swiss-based crypto custody provider Metaco for $250 million, allowing the company to expand its offerings by incorporating the technology to custody, issue, and settle tokenized assets. The acquisition is part of Ripple's strategy to broaden its presence beyond the U.S and its uncertain regulatory landscape. Ripple will become the sole shareholder of Metaco, which will continue to operate as an independent business unit led by its founder and CEO Adrien Treccani.