Ripple Acquires Standard Custody & Trust Company to Strengthen Regulatory Compliance
Ripple, the company behind XRP, has recently acquired Standard Custody & Trust Company, an enterprise-grade regulated platform for digital assets. This acquisition emphasizes Ripple’s commitment to regulatory compliance in the crypto industry.
Monica Long, Ripple President, stated that both Ripple and Standard Custody are dedicated to enabling enterprises to leverage blockchain technology for various financial use cases. The acquisition will help Ripple expand its license portfolio and strengthen its crypto infrastructure solutions.
Enhancing Regulatory Licenses and Partnerships
Standard Custody holds a limited purpose trust charter and money transmitter licenses across the United States. Additionally, it possesses a Major Payment Institution License from the Monetary Authority of Singapore and a Virtual Asset Service Provider registration with the Central Bank of Ireland.
This acquisition follows a recent announcement by Oliver Segovia, a Senior Director at Ripple, regarding upcoming product updates for the company’s US user base. These developments demonstrate Ripple’s efforts to enhance its offerings and serve a broader segment of customers.
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