Ripple Continues Acquisition Spree, Acquires Digital Asset Custodian Standard Custody and Trust

IconCryptoNewsTerminal Staff11 Jun, 2024

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Ripple Continues Acquisition Spree, Acquires Digital Asset Custodian Standard Custody and Trust

Following its acquisition of Metaco last year, Ripple (XRP), has announced the acquisition of another leading digital asset custodian, Standard Custody and Trust Company. The acquisition's financial terms were not disclosed. Ripple also announced the appointment of Jack McDonald, Standard Custody's current CEO, as SVP of its stablecoin business. Standard Custody and Trust is a New York-based qualified custodian with an experienced team and advanced technology. The firm provides custody, trading, financing, and other services to a variety of clients, including hedge funds, family offices, and institutions. The acquisition of Standard Custody and Trust is a significant step for Ripple as it continues to expand its presence in the digital asset market. The move will enhance Ripple's suite of products and services and enable it to provide more comprehensive solutions to its clients.

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