Ripple Acquiring Standard Custody to Enhance Regulatory Licenses
Ripple has announced its plan to acquire Standard Custody and Trust Company, a digital asset platform based in New York. This acquisition is pending regulatory approval and will make Ripple the sole shareholder of Standard Custody. By leveraging its limited-purpose trust charter and money transmitter licenses, Ripple aims to enhance its regulatory license portfolio.
Ripple’s Expansion into the US Market
Ripple is strategically positioning itself to further penetrate the US financial sector. The deal with Standard Custody & Trust adds a crypto custody and settlement business to Ripple’s portfolio, allowing customers to maintain custody with Ripple instead of relying on external partners.
Enhancing Regulatory Qualifications in the US
Despite ongoing legal disputes with the SEC, Ripple remains committed to enhancing its regulatory qualifications within the US. The acquisition of Standard Custody & Trust will unlock new growth opportunities for Ripple as it aims to broaden its offerings beyond payments and venture into other financial products.
Expanding Infrastructure Offerings
The acquisition of Standard Custody & Trust will enable Ripple to offer more in-house services, particularly for financial institutions seeking to tokenize assets. This strategic move provides vital compliance capabilities that complement Ripple’s blockchain technology offerings.
Expansion of European Custody Team and Partnerships
Ripple’s focus on the US market is driven by regulatory uncertainty surrounding digital assets. The company remains optimistic about the US becoming a leader in driving innovation in the digital asset space. Additionally, Ripple has been actively expanding its European custody team and establishing partnerships with prominent financial institutions worldwide.
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