Ripple acquires Metaco in $250m deal
Crypto and blockchain solutions provider Ripple has acquired Swiss-based digital asset custody and tokenisation tech firm Metaco for $250 million.
Metaco acquired by Ripple for $250m
Ripple says the acquisition will enable it to expand its enterprise offerings and provide its customers with the technology to custody, issue and settle any type of tokenised asset.
In turn, the deal will enable Metaco, best known for its digital asset custody and tokenisation infrastructure solution Harmonize, to “dramatically accelerate” its growth trajectory, the firms say, through access to Ripple’s base of “hundreds” of customers, new capital to address demand and vast resources.
Ripple president Monica Long says: “Custody is a key facet of the infrastructure required for enterprise crypto services.
“Adding these capabilities to Ripple’s already growing product solutions means we can continue to support customers as they look to utilise crypto and blockchain for real-world use cases across all phases of adoption.”
Ripple CEO Brad Garlinghouse adds: “Bringing on Metaco is monumental for our growing product suite and expanding global footprint.”
Ripple will become the sole shareholder of Metaco, which will continue to operate as an independent brand and business unit led by founder and CEO Adrien Treccani.
