Ripple has disclosed its acquisition of Standard Custody & Trust

Ripple, a pioneer in enterprise blockchain and crypto solutions, has announced its acquisition of Standard Custody & Trust Company, a regulated platform tailored for digital assets at an enterprise level. This strategic move reaffirms Ripple’s commitment to regulatory compliance while empowering the company to enhance its existing product lineup and explore new complementary offerings.

The growing institutional adoption of crypto and blockchain is driven by the availability of mature, highly secure, and fully regulated products in the market. With the addition of Standard Custody’s limited purpose trust charter and money transmitter licenses, Ripple’s regulatory licenses portfolio expands significantly. Ripple, along with its subsidiaries, already holds various licenses, including a New York BitLicense, nearly 40 money transmitter licenses across the U.S., a Major Payment Institution License from the Monetary Authority of Singapore, and a Virtual Asset Service Provider registration with the Central Bank of Ireland.

Monica Long, President of Ripple, emphasized, “Ripple and Standard Custody are dedicated to enabling enterprises to leverage blockchain across various financial use cases, offering institutional-grade solutions for tokenization, storage, movement, and exchange of value. By expanding our licenses portfolio and strategic acquisitions, Ripple is poised to capitalize on current market opportunities and reinforce our crypto infrastructure solutions. We remain committed to expanding our product offerings, supporting new initiatives, and catering to a broader customer base.”

Ripple’s global presence continues to soar, serving enterprises worldwide. The acquisition of Standard Custody follows Ripple’s previous acquisition of Metaco, a preferred custody solution among banks globally. Notably, Ripple has recently announced custody partnerships with leading banks like HSBC, BBVA, and Zodia Custody, while also expanding its Ripple Payments offering to new territories, including Africa. With a focus on Payments and Custody, Ripple now offers live commercial custody solutions in 20 regulatory jurisdictions and facilitates payments to 70 countries worldwide.

Jack McDonald, CEO of Standard Custody, remarked, “Standard Custody empowers financial institutions with a robust platform to secure their digital assets. Ripple’s extensive crypto expertise, strong relationships with financial institutions, and innovative product offerings in payments and custody make them an industry leader. Together, we will continue to innovate and solidify our position in providing crypto infrastructure.”

The completion of the acquisition is subject to regulatory approval and standard closing conditions. TD Cowen served as the exclusive financial advisor to PolySign in this transaction

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