Ripple, a San Francisco, CA-based provider of enterprise blockchain and crypto solutions, acquired Metaco, a Lausanne, Switzerland-based provider of digital asset custody and tokenization technology, for $250M.
With the acquisition, Ripple will expand its enterprise offerings, providing customers with the technology to custody, issue, and settle any type of tokenized asset.
Led by Adrien Treccani, Founder and CEO, Metaco offers secure custody infrastructure for institutions to scale new business models in the crypto economy. Its primary offering Harmonize is a mission-critical orchestration platform for digital assets. From asset-agnostic custody and trading to tokenization, staking and smart contract management, the platform connects large global custodians, top-tier banks, financial institutions and corporates to the broad universe of decentralized finance (DeFi) and decentralized applications (Web3 Dapps). The tech solutions are currently offered across various jurisdictions, including Switzerland, Germany, Turkey, France, the United Kingdom, the United States, Singapore, Australia, Hong Kong and the Philippines, among others.
Led by Brad Garlinghouse, CEO, and Monica Long, President, Ripple started with payments products, utilizing blockchain and cryptocurrency, and later expanded its offerings to address new use cases like liquidity management and tokenization, including Central Bank Digital Currencies (CBDCs). Today, the company serves hundreds of customers in over 55 countries and 6 continents with payout capabilities in 70+ markets.
Ripple will become the sole shareholder of Metaco, which will continue to operate as an independent brand and business unit led by Adrien Treccani.