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Ripple bought Metaco
US crypto firm Ripple has acquired Swiss-based digital asset custody technology provider Metaco for $250 million.
In a statement from Ripple, it was reported that with the said acquisition, the company will expand its enterprise solutions that provide technology to store, transfer and exchange all kinds of crypto assets.
Metaco will significantly accelerate its growth through access to Ripple's customer base, capital to meet new demand, and resources that will continue to fulfill its commitment to banking and corporate clients, the acquisition cost was $250 million.
Ripple CEO Brad Garlinghouse, whose views were included in the statement, pointed out that Metaco has a proven position in corporate digital asset oversight with its executive staff and client history.
Metaco Founder and CEO Adrien Treccani emphasized that their mission is to enable institutions to succeed in the digital asset economy, and stated that the acquisition agreement will enable Metaco to leverage Ripple's scale and market power to achieve its goals and deliver value to its customers faster.
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