Ripple to Buy New York Crypto Trust Company to Expand U.S. Options
Summary
Ripple acquired Standard Custody & Trust Co. to obtain a New York trust charter, expanding its U.S. regulatory licensing. The acquisition aims to offer in-house services and cater to financial firms interested in tokenizing assets. Ripple is also pursuing U.S. money transmission licensing. The deal adds a crypto custody and settlement business to Ripple's offerings, enabling customers to maintain custody with Ripple. Despite its legal battle with the SEC, Ripple sees potential in the U.S. market and aims to drive innovation. This acquisition follows Ripple's previous purchase of cryptocurrency custody firm Metaco.
