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Ripple Acquires Swiss-Based Crypto Startup as Crypto Rules Remain Murky

May 22, 2023 at 12:05 PM EDT

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

Blockchain company Ripple announced on Wednesday that it has acquired Swiss-based firm Metaco, a company that securely stores digital assets on behalf of clients, in an effort to increase its clientele globally and diversify its offerings. Though the terms weren’t made public, Ripple CEO Brad Garlinghouse revealed that the company spent $250 million for the deal, calling it the year’s largest acquisition.

Through the acquisition, Ripple will have access to the Harmonize infrastructure from Metaco as well as the capacity to safely hold, distribute and settle any kind of tokenized asset. In turn, Metaco has direct…

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