Ripple to Buy Crypto Custody Provider Metaco for $250 Million

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

• 2023-05-17
• Brad Garlinghouse crypto custody Metaco Chris Larsen

Ripple buys crypto custody firm Metaco for $250 million

U.S. crypto firm Ripple has bought Switzerland-based crypto custody firm Metaco for $250 million, in its first major acquisition, Ripple said on Wednesday. Metaco makes technology which allows financial institutions to store and manage digital assets. Its clients include Citi, BNP Paribas, and Societe Generale's digital asset arm.

• 2023-05-17
• Brad Garlinghouse crypto digital assets Metaco