Metaco has been acquired for $250 million.

 The company has acquired Metaco for $250 million in cash and Ripple equity. Metaco is a proven leader in institutional digital asset custody with an exceptional executive bench and a truly unparalleled customer track record. The strength of our balance sheet and financial position will allow us to continue pressing our advantage.

 Bringing on Metaco is monumental for our growing product suite and expanding global footprint. Traditional finance companies have been working with Ripple to integrate the two technologies into their infrastructure. In 2020, the US Securities and Exchange Commission filed a lawsuit against Ripple due to the nature of their XRP token sales. The SEC said that it should have been registered with the commission.

 The company generated more than a billion dollars from the sale of the XRP token. Metaco will continue to operate as an independent brand and business unit, but now has a new owner. Metaco has been working with institutional customers to provide them several enterprise-grade solutions, such as custody, orchestration, trading and more. The SEC suit against Ripple could indicate that the company wants to use its balance sheet to build a portfolio of cryptocurrencies.

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