Ripple has completed its acquisition of Standard Custody & Trust Company, a regulated digital asset custodian. This acquisition, announced by Ripple earlier this year, involves a trust company regulated by the New York Department of Financial Services. It broadens Ripple’s portfolio of licenses, which now includes nearly 40 U.S. money transmitter licenses, a Major Payment Institution License from Singapore, and a Virtual Asset Service Provider registration from Ireland. Ripple intends to introduce a USD-backed stablecoin on the XRP Ledger to enhance liquidity and bolster financial applications. This acquisition follows Ripple’s recent purchase of the Swiss crypto custody firm Metaco.
Ripple Completes Acquisition of Standard Custody & Trust Company
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