Ripple Acquires Standard Custody in Crypto Expansion

A major crypto payment firm, Ripple, has confirmed its acquisition of Standard Custody & Trust Company, an enterprise-grade regulated digital asset platform. 

Today, we’re excited to announce that Ripple has signed a deal to acquire @StandardCustody, strengthening our product offerings and adding to our growing portfolio of regulatory licenses around the world. Learn more about our latest acquisition:

— Ripple (@Ripple) February 13, 2024

This action highlights Ripple’s commitment to regulatory compliance, product improvement, and innovative service line development. Acquiring Standard Custody enhances Ripple’s portfolio of a trust charter and money transmitter licenses, which are already supported by its own regulatory licenses.

Ripple and its subsidiaries are also licensed globally, among other licenses, with a New York BitLicense and a Major Payment Institution License from the Monetary Authority of Singapore.

Jack McDonald, CEO of Standard Custody, commented on the acquisition, “Ripple continues to lead the industry with its deep crypto expertise, relationships with financial institutions and strong product offerings, across both payments and custody.”

With the reach of Ripple now covering 70 countries and with the commercial custody offerings available in 20 countries, it is apparent that Ripple is focusing on Payments and Custody.

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2024-02-13 20:20