Ripple Acquires Swiss-based Cryptocurrency Company!

SEC continuing its legal struggle with Ripple continues to make moves within the scope of its growth strategy.

According to Reuters, US crypto company Ripple is based in Switzerland. cryptocurrency storage company metacobought it for $250 million.

Ripple stated that the acquisition of Metaco is a way to diversify its custody solutions and will bring new revenue opportunities, noting that the acquisition is part of Ripple’s strategy to expand its presence beyond the US and the uncertain regulatory environment.

Ripple also stated in its statement that more than half of the $250 million purchase price was paid in cash and the remainder as equity.

Brad Garlinghouse, CEO of Ripple Noting that he expects the demand for crypto custody services from institutional investors to increase, he said the following about the Metaco acquisition:

“By focusing on crypto infrastructure, you don’t suffer the consequences of crypto winters and if you’re solving a clear problem at scale for institutional clients, there will be demand there.

In this context, while US regulators accelerate their sanctions against crypto companies, the fact that Metaco is based in Switzerland increases the attractiveness of the company for US customers.

Compared to the US, the rules of the road in other markets are clear and allow companies to invest, which also adds to the attractiveness.

At this point, Metaco is a proven leader in enterprise digital asset custody, with an outstanding executive branch and a truly unique client history.”

Although Metaco was acquired by Ripple and is the sole shareholder of Metaco, the Metaco company will continue to operate as an independent brand. Its founder and CEO, Adrien Treccani, will continue to lead the business.

*Not investment advice.