Ripple Expands Its Blockchain Empire with Acquisition of Standard Custody & Trust Company

US crypto firm Ripple secures crypto license in Singapore
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Ripple, a leading name in blockchain and cryptocurrency solutions, has announced its strategic acquisition of Standard Custody & Trust Company, an institutional-grade digital assets custodian. This move significantly bolsters its position in the digital asset sphere. This acquisition is a clear testament to Ripple‘s dedication to adhering to regulatory standards and broadening its suite of blockchain-based financial offerings for institutional clients.

By integrating Standard Custody into its operations, Ripple is set to enhance its regulatory footprint significantly. The acquisition grants Ripple access to Standard Custody‘s esteemed limited purpose trust charter and a suite of money transmitter licenses. This addition is a notable complement to Ripple‘s already impressive collection of regulatory licenses, which includes a New York BitLicense, nearly 40 money transmitter licenses across the United States, a Major Payment Institution License from the Monetary Authority of Singapore, and a Virtual Asset Service Provider registration with the Central Bank of Ireland.

Monica Long, President of Ripple, expressed enthusiasm for the merger, stating, “Ripple and Standard Custody are committed to empowering enterprises to harness the power of blockchain for a wide range of financial applications, from tokenization and storage to value transfer and exchange. Through expanding our license portfolio and strategic acquisitions like this, Ripple is positioning itself to capitalize on current market opportunities and enhance our cryptocurrency infrastructure solutions.”

This acquisition follows Ripple‘s substantial $250 million purchase of custody provider Metaco last year and is part of a broader strategy to forge custody partnerships with leading global banks, including HSBC, BBVA, and Zodia Custody. Additionally, Ripple has been actively extending the reach of its Ripple Payments solution, marking its entry into new markets such as Africa.

Completing the Standard Custody & Trust Company transaction is pending regulatory approval, with the deal’s financial details remaining undisclosed. This move marks another significant milestone for Ripple as it continues to strengthen its infrastructure and offerings in the rapidly evolving digital asset landscape.


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