Ripple (XRP) to Acquire Standard Custody & Trust Co. to Expand in the US
Ripple (XRP) has announced its plans to acquire Standard Custody & Trust Co., a crypto custodial company based in New York. This strategic acquisition will allow Ripple to enhance its regulatory qualifications and expand its presence in the United States.
XRP News: Strengthening Ripple’s Position in the US Cryptocurrency Market
Ripple aims to obtain a trust license in New York through this acquisition, which will enable the company to offer a wider range of services and introduce new financial products based on blockchain technology. Monica Long, the president of Ripple, emphasized that this move is part of a long-term project to provide advanced infrastructure to financial institutions.
The Agreement with Standard Custody & Trust
The details of Ripple’s agreement with Standard Custody & Trust are currently confidential pending approval from the New York Department of Financial Services. This acquisition will allow Ripple customers to manage custody through the company itself, reducing reliance on external third parties.
Leadership Changes in Metaco Following Ripple’s Acquisition
After Ripple’s acquisition of cryptocurrency custody company Metaco, there have been leadership changes with the resignation of Adrien Treccani and Peter DeMeo. This has sparked discussions about the future of Metaco under Ripple’s influence and its implications for the cryptocurrency custody sector. However, Ripple remains committed to maintaining Metaco’s high standards of service and innovation during this transition phase.
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