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Ripple Acquires Swiss Custody Firm Metaco in $250M Deal To Expand Into Institutional Crypto Custody Services

Ripple, a San Francisco-based enterprise blockchain and payments specialist, has acquired Swiss custody firm Metaco in a deal worth $250 million. This move marks Ripple's expansion into providing crypto custody services for institutional investors. The company plans to offer customers tools to custody, issue, and settle tokenized assets.

Metaco will continue to operate as a standalone brand, with its founder and CEO Adrien Treccani still leading the business. The acquisition comes as Ripple is still in a legal battle with the U.S. Securities and Exchange Commission.

Despite this, Ripple's president Monica Long believes the company is uniquely positioned to address the growing institutional crypto custody market, expected to reach nearly $10 trillion by 2030.

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