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Ripple to Buy Crypto Custody Provider Metaco for $250 Million
linkweb3
2023-05-17
3507
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Summary：Blockchain company Ripple agreed to buy Swiss-based crypto custody provider Metaco in a cash-and-stock deal valued at $250 million. The deal allows Ripple—which markets itself as a payments-focused crypto firm—to expand into the institutional [crypto custody](https://www.wsj.com/articles/heres-what-crypto-custody-is-and-how-the-sec-wants-to-change-it-103225c4) market. Lausanne, Switzerland-based Metaco employs about 100 people and on its website counts traditional banks including Citi and BNP
Blockchain company Ripple agreed to buy Swiss-based crypto custody provider Metaco in a cash-and-stock deal valued at $250 million. The deal allows Ripple—which markets itself as a payments-focused crypto firm—to expand into the institutional [crypto custody](https://www.wsj.com/articles/heres-what-crypto-custody-is-and-how-the-sec-wants-to-change-it-103225c4) market. Lausanne, Switzerland-based Metaco employs about 100 people and on its website counts traditional banks including Citi and BNP Paribas as clients.
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