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Ripple Expands Crypto Custody Services and Announces Job Opening at Metaco

Ripple, the San Francisco-based blockchain company, is making significant strides in the digital asset custody sector with strategic acquisitions and partnerships. One such move is the recent job posting for an experienced enablement engineer in New York, signaling Ripple’s commitment to expanding its presence in this niche market.

This development comes on the heels of Ripple’s acquisition of Metaco, a leading firm that specializes in security-critical infrastructure for financial institutions. The acquisition, valued at $250 million, was finalized in May of the previous year and solidified Metaco as a key player in the digital asset ecosystem.

Metaco, now a part of Ripple, boasts a prestigious clientele that includes major financial institutions such as Citi, BNP Paribas, and the digital asset division of Societe Generale. The company is renowned for its scalable and integrated solutions, focusing on providing robust, scalable, and seamless offerings to meet the evolving needs of the industry.

The recently advertised position at Ripple is centered around the Harmonize platform, which aims to streamline client integration with Metaco’s innovative solutions. This move aligns with Ripple’s strategic vision to cater to the growing institutional demand for secure and reliable cryptocurrency custody services.

More than just a foray into the custody sector, Ripple’s acquisition of Metaco serves as a strategic maneuver to tackle the complex regulatory landscape in the cryptocurrency industry. By leveraging Metaco’s technology, Ripple aims to offer a secure and compliant platform for clients to manage their digital assets, an increasingly crucial necessity amidst heightened regulatory scrutiny.

Brad Garlinghouse, Ripple’s CEO, has underscored the importance of building robust infrastructure to counter the inherent volatility of cryptocurrencies. Emphasizing stability and regulatory compliance over short-term gains, Garlinghouse’s vision drives Ripple’s expansion into the digital asset custody domain.

In a further bid to enhance its regulatory compliance capabilities, Ripple recently announced its plans to acquire Standard Custody and Trust Company, a reputable New York-based entity specializing in digital asset services. The acquisition is poised to bolster Ripple’s regulatory standing by adding essential trust charter and money transmitter licenses to its repertoire.

Standard Custody, which obtained a New York trust license in May 2021, is recognized for its top-notch custody and settlement services for digital assets. By integrating Standard Custody’s expertise and credentials, Ripple aims to solidify its position as a leading provider of comprehensive services in the dynamic cryptocurrency market.

Building on its success and partnerships with major banks worldwide, Ripple is actively seeking to enhance its regulatory credentials in key markets such as the U.S., Singapore, the U.K., and Europe. By offering a comprehensive suite of services that cater to the evolving needs of the cryptocurrency landscape, Ripple remains at the forefront of innovation and regulatory compliance.

With a strategic vision geared towards long-term stability and regulatory adherence, Ripple’s expansion into the digital asset custody sector underscores the company’s commitment to driving industry growth and innovation.

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