Payments firm Ripple is paying a nine-figure price tag to acquire Metaco, a Swiss-based digital assets custody provider.
In a new press release, Ripple Labs says its purchasing Metaco for $250,000,000 in response to research suggesting that institutional investors plan to heavily incorporate crypto custody services into their business models within the next three years.
“Custody is a key facet of the infrastructure required for enterprise crypto services, and recent research conducted by Ripple shows that most global finance leaders at financial institutions and enterprises have plans to use crypto custody solutions in their business within the next three years – primarily through a third party provider.”
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Ripple says that the fusion of the companies benefits both parties as Metaco’s services, which include tokenization
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