US-based Ripple, a company that claims to be the leader in enterprise blockchain and crypto solutions, announced on Wednesday, May 17, that it has acquired Switzerland-based Metaco, a provider of digital asset custody and tokenisation technology, for $250M (approximately €230.94M).
According to Ripple, this is a significant step in its business and product strategy as diversifying into custody solutions will provide the company with additional revenue opportunities.
Ripple will now take over as Metaco’s sole shareholder, but Adrien Treccani, the company’s founder and CEO, will continue to run it as a separate brand and business unit.
Building breakthrough crypto solutions
Founded in 2012, Ripple provides cryptocurrency solutions and transforms how money is managed, moved, and tokenised in the world.