Ripple acquires Swiss startup amid SEC crackdown.

Ripple has acquired Swiss firm Metaco, which offers secure digital asset storage services for financial institutions, in a bid to expand its international presence and range of services. The acquisition comes as Ripple continues to contest a lawsuit from the US Securities and Exchange Commission (SEC) and the crypto industry faces a range of challenges. Ripple invested $250 million in cash to fund the acquisition, which is one of the largest in the crypto industry in the past year. Metaco counts major financial firms as clients including Citi, BNP Paribas, BBVA and Societe Generale.