• Ripple, a leader in enterprise blockchain and crypto solutions, has acquired Metaco, a Swiss-based provider of digital asset custody and tokenization technology.
• Ripple plans to diversify its enterprise offerings by providing customers with the technology to custody, issue, and settle any type of tokenized asset.
• With this acquisition, Metaco will benefit from Ripple’s established base of hundreds of customers, capital to address new demand, and resources to continue delivering on its commitment.
Ripple Acquires Custody Provider Metaco
Ripple has announced the acquisition of Swiss-based digital asset custody and tokenization provider Metaco for $250M. The acquisition is part of Ripple’s strategy to provide customers with the technology to custody, issue, and settle any type of tokenized asset. This move is expected to open up new revenue opportunities for Ripple in the growing institutional crypto custody market which is expected to reach $10T by 2030.
Benefits for Both Companies
The acquisition will allow Ripple to expand its enterprise offerings while Metaco will benefit from access to hundreds of Ripple’s existing customers as well as financial resources required for scaling up operations. This collaboration is also expected create secure enterprise-grade solutions between both companies due their shared “crypto DNA” and experience in working with regulated entities.
Ripple first focused on solving multi-trillion dollar pain points in cross-border payments utilizing blockchain and cryptocurrency before expanding its product offerings into areas such as liquidity management and tokenization including Central Bank Digital Currencies (CBDCs). Currently it serves hundreds of customers across 55 countries with payout capabilities in 70+ markets.
Metaco offers mission-critical custody infrastructure for institutions which allows them to scale new business models in the crypto economy through its flagship offering Harmonize. It also provides services such as storage infrastructure powered by leading banking security standards (PCI DSS v3 compliance), private key management systems supporting multiple hardware security tokens (HSMs)and cloud deployments via AWS CloudHSM among many others.
The combination of Ripple’s existing customer base along with Metaco’s secure infrastructure makes it a powerful tool for enterprises looking for reliable ways to store digital assets securely while still taking advantage of all the benefits that come from blockchain technology.