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cryptocurrency1 year ago

"Metaco, Ripple's Crypto Custody Firm, Sees CEO and Head of Product Departures"

The CEO and chief product officer of Metaco, a cryptocurrency custody firm acquired by Ripple, have left the company. Ripple confirmed their departure and expressed appreciation for their leadership in building the custody business and integrating it with Ripple. Metaco, a favorite partner for European banks, had recently signed up HSBC, but there were reports of banks re-evaluating their relationship with Metaco following the acquisition by Ripple.

via CoinDesk|
#ceo-departure#cryptocurrency#cryptocurrency-custody
cryptocurrency2 years ago

Zodia Custody Partners with Metaco for Global Crypto Storage Network

Zodia Custody, a cryptocurrency storage provider backed by Standard Chartered, is joining Ripple-owned custody specialist Metaco's network to offer global sub-custody services. The integration aims to link multiple custodians together and provide compliant storage and settlement of digital assets for institutions worldwide. This move reflects the evolving infrastructure of crypto custody, resembling traditional finance practices, and highlights the growing popularity of crypto storage and settlement networks. Zodia Custody has expanded its operations to Singapore, while its sister company, Zodia Markets, has received approval to operate as an OTC crypto broker-dealer in Abu Dhabi.

via CoinDesk|
#cryptocurrency#cryptocurrency-storage#global-sub-custody
cryptocurrency2 years ago

Ripple CEO warns of potential crypto exodus from US amid confusing regulations.

Ripple CEO Brad Garlinghouse has said that "confusing" regulations in the U.S. will push more crypto companies to leave the country. He added that Europe and countries like the UAE, the U.K., and Singapore are providing clarity on how they will regulate digital assets, which is attracting entrepreneurship and investment. Garlinghouse said that Ripple is in a good financial position and funded the purchase of Swiss crypto custody services firm Metaco with $250 million of cash off its own balance sheet.

via CNBC|
#crypto-firms#cryptocurrency#metaco
cryptocurrency2 years ago

Ripple acquires Swiss crypto custody firm Metaco for $250M amid SEC crackdown.

Ripple, the sixth largest cryptocurrency, is acquiring Swiss crypto custody firm Metaco for $250 million, with more than half of the deal paid in cash. Metaco provides technology for financial institutions to store and manage digital assets, with clients including Citi and BNP Paribas. This marks Ripple's first major acquisition and CEO Brad Garlinghouse said it is "monumental" for the company's product suite and global expansion. The acquisition comes as investors become increasingly cautious about where and how crypto assets are stored, following a series of collapses at major crypto firms and regulatory crackdowns.

via Fox Business|
#acquisition#crypto-custody#cryptocurrency
cryptocurrency2 years ago

Ripple Acquires Metaco to Dominate Crypto Custody Market.

Ripple has acquired Swiss-based digital asset custody and tokenisation technology provider Metaco to expand its enterprise offerings and provide customers with the technology to custody, issue and settle any type of tokenised asset. The acquisition will enable Metaco to leverage Ripple's scale and market strength to reach its goals and deliver value to its clients at a faster pace. The institutional crypto custody market is expected to reach $10tn by 2030, and most global finance leaders at financial institutions and enterprises have plans to use crypto custody solutions in their business within the next three years.

via Ripple|
#crypto-custody#cryptocurrency#institutional-investors
cryptocurrency2 years ago

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.

via CNBC|
#crypto-industry#cryptocurrency#digital-assets
cryptocurrency2 years ago

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.

via CoinDesk|
#acquisition#crypto-custody#cryptocurrency