As part of its ongoing commitment to regulatory compliance and to grow its own enterprise blockchain solutions, Ripple recently announced an agreement to acquire Standard Custody & Trust Company, an enterprise-grade regulated platform for digital assets.
The deal not only underscores Ripple’s commitment to regulatory compliance, but it also strengthens Ripple’s product offerings in response to growing customer demand. The addition of Standard Custody makes Ripple further suited to build and provide institutional-grade solutions that help organizations tokenize, store, move, and exchange value.
Importantly, the deal expands Ripple’s portfolio of regulatory licenses that will bolster Ripple’s enterprise blockchain solutions to serve a broader customer base across multiple use cases. As one of the few crypto companies that holds a TrustLicense, the Standard Custody acquisition is part of an ongoing pursuit to obtain licenses in other countries and regions, including Singapore, the UK and Europe.
Ripple President Monica Long said: “By expanding our licenses portfolio and making smart acquisitions…we will continue to leverage our strong financial standing to expand our product offerings, support new initiatives on the product roadmap and serve a broader segment of customers.”
While this acquisition augments Ripple’s growing portfolio of regulatory licenses — Ripple now holds nearly 40 money transmitter licenses across the US, a Major Payment Institution License from the Monetary Authority of Singapore, and a Virtual Asset Service Provider registration with the Central Bank of Ireland — it also highlights the company’s deep crypto expertise and long-term strategic initiatives that will best serve enterprises worldwide.
As global businesses and institutions lean further into the benefits of blockchain technology, they are increasingly seeking a more mature, secure and fully compliant solution to safeguard and manage their digital assets. Ripple continues to solidify its position as an industry-leading enterprise blockchain solutions provider while adoption of crypto for business grows across financial services.
Contact our team today to learn more.
