Metaco raised $17 million in a Series A funding round in 2020. The company raised $20 million in total before being acquired.
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On May 17, Ripple, creator of the namesake payments network and XRP token, announced it had acquired Swiss digital asset custodian and tokenization provider Metaco for $250 million. With the acquisition, Ripple says it will expand its enterprise offering to custody, issue, and settle tokenized assets. The firm’s developers wrote:
“Metaco will dramatically accelerate its growth trajectory through access to Ripple’s established base of hundreds of customers, capital to address new demand, and resources to continue delivering on its commitment to banking and institutional clients.”
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Ripple estimates the institutional crypto custody market will reach $10 trillion by 2030. Its
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