Ripple, the leader in enterprise blockchain and crypto solutions, announced today it has acquiredĀ Metaco, a Swiss-based provider of digital asset custody and tokenization technology. Diversifying into custody solutions is a milestone in Rippleās business and product strategy, bringing new revenue opportunities to the company.
Ripple and Metaco share strong crypto DNA, top-tier institutional customers, and a long history of working with regulated entities to create secure enterprise-grade solutions. With this acquisition, Ripple will expand its enterprise offerings, providing customers with the technology to custody, issue, and settle any type of tokenized asset. Metaco will dramatically accelerate its growth trajectory through access to Rippleās established base of hundreds of customers, capital to address new demand, and resources to continue delivering on its commitment to banking and institutional clients.
āMetaco is a proven leader in institutional digital asset custody with an exceptional executive bench and a truly unmatched customer track record,ā said Brad Garlinghouse, CEO of Ripple. āThrough the strength of our balance sheet and financial position, Ripple will continue pressing our advantage in the areas critical to crypto infrastructure. Bringing on Metaco is monumental for our growing product suite and expanding global footprint.ā
Best known for its flagship payments products, Ripple was the first company to address the multi-trillion dollar pain points in cross-border payments utilizing blockchain and cryptocurrency. The company focused on solving the hardest problems ā such as building blockchain-enabled payments infrastructure from the ground up ā before expanding its product offerings to address new use cases like liquidity management and tokenization, including Central Bank Digital Currencies (CBDCs). Today, Ripple serves hundreds of customers in over 55 countries and 6 continents with payout capabilities in 70+ markets.
Metaco offers secure and versatile mission-critical custody infrastructure for institutions to scale new business models in the crypto economy. Its primary offeringĀ HarmonizeĀ is the institutional standard for digital asset custody and tokenization infrastructure, chosen by the worldās largest global custodians, top-tier banks, financial institutions and corporates. Metacoās technology solutions are currently offered across various jurisdictions, including Switzerland, Germany, Turkey, France, the United Kingdom, the United States, Singapore, Australia, Hong Kong and the Philippines, among others.
āAs the go-to provider for traditional finance companies looking to integrate crypto and blockchain solutions, Ripple is uniquely positioned to address the growing institutional crypto custody market, expected to reach $10T by 2030. Custody is a key facet of the infrastructure required for enterprise crypto services. Adding these capabilities to Rippleās already growing product solutions means we can continue to support customers as they look to utilize crypto and blockchain for real-world use cases across all phases of adoption,ā said Monica Long, President at Ripple.
Adrien Treccani, Founder and CEO at Metaco, said, āOur mission has always been to enable institutions to thrive in the digital asset economy with the help of our core infrastructure and expertise, and we are delighted to join forces with the team at Ripple, who share that passion. This deal will enable Metaco to leverage Rippleās scale and market strength to reach our goals and deliver value to our clients at a faster pace. We look forward to continuing to serve unprecedented levels of institutional demand with the utmost excellence in delivery, as our clients have come to expect.ā
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.
