Ripple, a leader in enterprise blockchain and crypto solutions, today announced that it has agreed to acquire Metaco, a Swiss-based provider of digital asset custody and tokenization technology. Diversifying into custody solutions is a milestone in Ripple’s business and product strategy, bringing new revenue opportunities for the company.
Ripple and Metaco share strong crypto DNA, top-tier institutional clients and a long history of working with regulated entities to create secure enterprise-grade solutions. With this acquisition, Ripple will expand its enterprise offering, providing customers with the technology to hold, issue and settle any type of tokenized asset. Metaco will dramatically accelerate its growth path through access to Ripple’s established base of hundreds of customers, capital to meet new demand, and resources to continue its commitment to banking and institutional clients.
“Metaco is a proven leader in institutional digital asset custody with an exceptional executive bench and a truly unmatched client track record,” said Brad Garlinghouse, CEO of Ripple. “Through the strength of our balance sheet and financial position, Ripple will continue to drive our gains in areas critical to crypto infrastructure. Bringing Metaco on is critical to our growing product suite and expansion of our global footprint.
Best known for its flagship payments product, Ripple was one of the first to address the multi-trillion dollar pain points in cross-border payments using blockchain and cryptocurrency. The company focused on solving the toughest problems – such as liquidity management including central bank digital currencies (CBDCs) and blockchain from the ground up – before expanding its product offering to address new use cases such as tokens. Creating an efficient payment infrastructure. Today, Ripple serves hundreds of thousands of customers in over 55 countries and 6 continents with payment capabilities in 70+ markets.
Metaco provides secure and versatile mission-critical custody infrastructure for institutions looking to scale new business models in the crypto economy. Its primary offering Harmonize is the institutional standard for digital asset custody and tokenization infrastructure, chosen by the world’s largest global custodians, top tier banks, financial institutions and corporates. Metaco’s technology solutions are currently offered in various jurisdictions including Switzerland, Germany, Turkey, France, the United Kingdom, the United States, Singapore, Australia, Hong Kong and the Philippines.
“As a provider to traditional finance companies looking to integrate crypto and blockchain solutions, Ripple is uniquely positioned to address the growing institutional crypto custody market, which is expected to reach approximately $10T by 2030. Custody is a key aspect of the infrastructure needed for enterprise crypto services. Adding these capabilities to Ripple’s already growing product solutions means we can continue to support customers as they move through all stages of adoption in real-time. want to use crypto and blockchain for the world’s use cases,” said Monica Long, president of Ripple.
“Our mission has always been to enable institutions to thrive in the digital asset economy with our core infrastructure and expertise, and we are delighted to join the Ripple team,” said Adrian Treccani, Founder and CEO of Metaco. , who share that passion. This deal will enable Metaco to leverage Ripple’s scale and market strength to reach our goals and deliver value to our customers at an accelerated pace. We will institutionalize with utmost excellence in delivery We look forward to continuing to serve the unprecedented level of demand our customers have come to expect.
Ripple will become the sole shareholder of Metaco, which will continue to operate as an independent brand and business unit under the leadership of founder and CEO Adrian Treccani.
