Ripple, the San Francisco-based blockchain technology company, has recently announced the acquisition of Switzerland-based Metaco, a provider of secure digital asset infrastructure for financial institutions.
The acquisition is part of Ripple’s strategy to expand its services to traditional financial institutions and to provide them with a secure and reliable infrastructure to manage digital assets. Metaco’s technology will be integrated with Ripple’s existing payments platform to offer enhanced security and scalability.
Through the acquisition, Ripple will gain access to Metaco’s existing customer base, which includes financial institutions such as banks, broker-dealers, asset managers, and exchanges. The acquisition is expected to accelerate Ripple’s growth and help it to further solidify its leading position in the blockchain industry.
The terms of the deal have not been disclosed, but it is believed to be an all-cash transaction. The acquisition is subject to regulatory approvals, and both companies are expecting it to close by the end of the year.
This acquisition is a strategic move for Ripple, as it will enable it to further expand its services to traditional financial institutions and offer them a secure and reliable infrastructure to manage digital assets. It will also help Ripple to further strengthen its position in the blockchain industry.