Blockchain firm Ripple announced on Wednesday its $250 million acquisition of Switzerland-based custodian Metaco. Crypto advisory firm Architect Partners expects further mergers and acquisitions in the custody industry due to several market factors, according to a new research note.
Architect Partners first analyzed the Ripple-Metaco deal, writing that Ripple “seeks to transform the $156 trillion cross-border payment market, has initiatives focused on the emerging opportunity for Central Bank Digital Currencies (CBDCs) and has aspirations to allow the issuance and settlement of any type of tokenized asset as that market develops.” The addition of Metaco custody technology and related services helps Ripple protect customer assets, control how the technology evolves and provides an “attractive
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