Ripple Labs Acquires Standard Custody & Trust Company
Blockchain payments firm Ripple Labs has announced its acquisition of Standard Custody & Trust Company, a regulated platform for digital assets. The deal is still awaiting regulatory approval, demonstrating Ripple’s commitment to compliance. Once approved, Ripple Labs will become the sole shareholder of Standard Custody and gain access to its licenses and registration. This acquisition will enhance Ripple’s regulatory licenses portfolio and allow the company to provide a full end-to-end solution for decentralized financial services. In addition to Standard Custody, Ripple has also added custody solutions provider Metaco to its portfolio.
Ripple’s Expansion Plans
Ripple Labs is making moves to establish its position in the financial landscape after facing enforcement actions from the U.S. SEC for nearly three years. With XRP as a driving force in the Ripple ecosystem, Ripple aims to expand its business reach. The recent verdict declaring XRP as not an investment contract has opened up opportunities for Ripple. The company plans to push its Ripple Payments service, which utilizes XRP, within the U.S. Despite its achievements thus far, Ripple remains focused on further expanding its services.
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