Ripple Expands Services with Acquisition of Standard Custody & Trust Company
Payments company Ripple Labs is set to acquire US-based digital asset custodian Standard Custody & Trust Company, a move that will enhance its services in the crypto industry. The acquisition, subject to regulatory approval, will enable Ripple to strengthen its existing product offerings and explore new complementary products. Ripple president Monica Long expressed excitement about the integration of custody into Ripple’s products, highlighting the synergies with Standard Custody. With this acquisition, Ripple will gain Standard Custody’s limited purpose trust charter and money transmitter licenses, further adding to its extensive portfolio of regulatory licenses. The financial details of the deal were not disclosed. Last year, Ripple acquired Swiss-based custody provider Metaco in response to growing institutional demand for crypto custody services.
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