Ripple Acquires Fortress Trust: Expanding Crypto Infrastructure
Ripple, the company behind XRP, has made an exciting announcement – it is acquiring Fortress Trust, a well-known financial institution that focuses on cryptocurrencies. Fortress Trust specializes in providing Web3 financial, technology, and regulatory infrastructure to blockchain-oriented companies. The exact amount of the acquisition has not been disclosed.
In a statement, Ripple CEO Brad Garlinghouse expressed his enthusiasm about the acquisition, highlighting the impressive business that Fortress Trust has built since its launch in 2021. He emphasized the recurring revenue and strong customer base that Fortress Trust has, which includes both crypto-native and new-to-crypto customers. Garlinghouse sees this acquisition as an opportunity to accelerate Ripple’s business and strengthen its position in the critical areas of crypto infrastructure.
Hot Take
Ripple’s acquisition of Fortress Trust demonstrates its commitment to expanding and improving the crypto infrastructure. By bringing onboard a reputable financial institution with expertise in cryptocurrencies, Ripple aims to enhance its services and cater to a wider range of customers. This move could have a positive impact on the adoption and development of blockchain technology, as it strengthens the ecosystem and provides more reliable and efficient financial solutions.
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