Ripple Expands Acquisition Strategy with Fortress Trust Purchase Following $250M Metaco Deal

Ripple Expands Acquisition Strategy with Fortress Trust Purchase Following $250M Metaco Deal

Ripple Acquires Blockchain Infrastructure Firm Fortress Trust

Ripple has made another acquisition, this time acquiring Fortress Trust, a blockchain infrastructure company. The notice was created via email, although specific financial details were not disclosed. Nonetheless, sources familiar with the matter stated that the acquisition cost was lower than the $250 Million Ripple spent on Swiss custody firm Metaco earlier in the year. With this acquisition, Ripple expands its regulatory license portfolio to include Nevada, in addition to its existing licenses in New York and other United States states.

Ripple CEO Brad Garlinghouse expressed his confidence in Fortress Trust, stating that they have built an impressive business with a strong customer base.

Fortress Trust, established by Scott Purcell, provides financial and regulatory frameworks for blockchain corporations. Ripple’s President, Monica Long, sees this acquisition as a strategic move to strengthen Ripple’s position as a leading blockchain platform for enterprises.

Ripple Remains Strong Amid Legal Battle

Regardless of its ongoing legal dispute with the United States Securities and Exchange Commission (SEC), Ripple continues  to make strategic moves. Ripple’s recent acquisition of Fortress Trust has likely boosted confidence within the XRP Ripple (XRP) community. In an interview, Ripple’s co- founder, Chris Larsen, highlighted the SEC’s failure to meet its goals in the case and emphasized the significance of the outcome for both Ripple and the broader cryptocurrency market.

Peter Schiff’s Warning: Approaching Market Crash or Crisis with Each Passing Day

Pro- XRP Ripple (XRP) lawyer John Deaton believes that the SEC’s case has had a negative impact on XRP Ripple (XRP), even after a court ruled in favor of the digital currency. Deaton suggested that a probable settlement is possible if the judge approves Coinbase’s dismissal request, which would limit the SEC’s appeal alternatives. The case is scheduled for trial in 2024.

Hot Take:

Ripple’s latest acquisition of Fortress Trust demonstrates its determination to expand its capabilities and strengthen its market position. Regardless of the ongoing legal battle with the SEC, Ripple remains resilient and focused on achieving its goals. This acquisition not only adds to Ripple’s regulatory licenses but likewise enhances its capacity to serve as a leading platform for enterprises in the blockchain industry. As Ripple continues  to navigate the legal landscape, the outcome of the case will undoubtedly have far-reaching implications for both Ripple and the broader cryptocurrency market.

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