Ripple acquires cryptocurrency custody company Metaco for $250 million

ChainCatcher news, according to CoinDesk, Ripple has spent $250 million to acquire the Swiss-based cryptocurrency custody company Metaco. This acquisition will allow Ripple to expand its products by integrating its technology into the custody, issuance, and settlement of tokenized assets.

The acquisition was made through a combination of cash and Ripple equity, and Metaco will continue to operate as an independent business unit, led by founder and CEO Adrien Treccani. (source link)