{"id":395161,"date":"2023-05-18T08:03:58","date_gmt":"2023-05-18T08:03:58","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=395161"},"modified":"2023-05-18T08:03:58","modified_gmt":"2023-05-18T08:03:58","slug":"tokenization-push-ripple-acquires-crypto-custody-firm-metaco-for-250m","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/tokenization-push-ripple-acquires-crypto-custody-firm-metaco-for-250m","title":{"rendered":"Tokenization Push: Ripple Acquires Crypto Custody Firm Metaco for $250M"},"content":{"rendered":"
Ripple, the creator of the well-known payments network and XRP token, announced an exciting acquisition of Metaco, a Swiss digital asset custodian and tokenization provider. <\/span><\/p>\n The acquisition marked a significant step forward for Ripple as it expanded its enterprise offering to include custody, issuance, and settlement of tokenized assets. Ripple invested a substantial $250 million to acquire Metaco, following a successful Series A funding round in 2020, where Metaco raised $17 million. <\/span><\/p>\n Metaco had raised $20 million before its acquisition by Ripple, further highlighting the company’s growth and potential in the digital asset industry.<\/span><\/p>\n “Metaco is on the verge of a remarkable acceleration in its growth trajectory thanks to the valuable advantages gained from Ripple. By harnessing Ripple’s well-established customer base, securing additional capital to cater to escalating demand, and tapping into valuable resources, Metaco is fully equipped to uphold its unwavering commitment to its banking and institutional clients.”<\/span><\/i><\/p><\/blockquote>\n According to Ripple, they project the institutional crypto custody market to reach an impressive $10 trillion by 2030. Extensive research conducted by Ripple also reveals that most global finance leaders in financial institutions plan to adopt crypto custody solutions within the next three years. <\/span><\/p>\n Today, we are proud to announce Ripple has acquired @metaco_sa<\/a>, becoming the sole shareholder of the Swiss-based provider of digital asset custody and tokenization technology.<\/p>\n Learn more: https:\/\/t.co\/GrI3u13iDT<\/a><\/p>\n — Ripple (@Ripple) May 17, 2023<\/a><\/p><\/blockquote>\nMetaco Partners with Ripple to Tap into the $10 Trillion Institutional Crypto Custody Market<\/span><\/h2>\n
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