{"id":480528,"date":"2024-02-14T12:10:20","date_gmt":"2024-02-14T12:10:20","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=480528"},"modified":"2024-02-14T12:10:20","modified_gmt":"2024-02-14T12:10:20","slug":"ripple-acquires-standard-custody-trust-to-expand-u-s-financial-product-offerings-despite-ongoing-sec-clash","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/ripple-acquires-standard-custody-trust-to-expand-u-s-financial-product-offerings-despite-ongoing-sec-clash","title":{"rendered":"Ripple Acquires Standard Custody & Trust To Expand U.S. Financial Product Offerings Despite Ongoing SEC Clash"},"content":{"rendered":"

Ripple is acquiring <\/span>Standard Custody & Trust<\/span><\/a> as it looks to expand its product offerings in the U.S. despite its ongoing legal battle with the Securities and Exchange Commission (SEC).<\/span><\/p>\n

Ripple<\/span><\/a> has yet to disclose the terms of the deal as it awaits approval from the New York Department of Financial Services. If it’s approved, Ripple will add a crypto custody and settlement business to its suite of products, enabling customers to maintain custody with Ripple instead of competitors.<\/span><\/p>\n

Ripple Adds More Services For Institutional Clients<\/span><\/h2>\n

It will also allow the company to offer tokenization services to financial firms as it looks to expand its services beyond just a payment network. This will open up a range of financial products that will let the company’s institutional clients benefit from blockchain technology.<\/span><\/p>\n

“We want to offer more and more of these infrastructure pieces to these financial institutions,” said Ripple President Monica Long in an interview with CoinDesk. “We see this as giving us a lot of flexibility.”<\/span><\/p>\n

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Today, we’re excited to announce that Ripple has signed a deal to acquire @StandardCustody<\/a>, strengthening our product offerings and adding to our growing portfolio of regulatory licenses around the world. Learn more about our latest acquisition: https:\/\/t.co\/JJp51mEabL<\/a><\/p>\n

— Ripple (@Ripple) February 13, 2024<\/a><\/p><\/blockquote>\n