tl;dr
Ripple has successfully acquired Standard Custody & Trust Company, a regulated digital asset custodian, expanding its ability to provide digital asset custody solutions. The acquisition aligns with Ripple's strategy to integrate blockchain technology into the global financial system. Ripple's regula...
Ripple Acquires Standard Custody Ripple has acquired Standard Custody & Trust Company, a regulated digital asset custodian, expanding its ability to provide digital asset custody solutions. The acquisition aligns with Ripple's strategy to integrate blockchain technology into the global financial system. Ripple's regulatory achievements now span nearly 40 U.S. state money transmitter licenses and include licenses from Singapore’s Monetary Authority and the Central Bank of Ireland.
Ripple plans to issue a forthcoming USD-backed stablecoin, aiming to bridge the gap between blockchain and traditional finance. Leveraging its experience, Ripple plans to issue the stablecoin on the XRP Ledger to enhance liquidity and support a broader range of financial use cases. The appointment of Standard Custody CEO Jack McDonald as Ripple’s Senior Vice President of Stablecoins reinforces Ripple’s commitment to innovation and regulatory compliance.
The acquisition aligns with Ripple's ambition to integrate blockchain technology into the global financial system, backed by the renowned secure, enterprise-grade custody services of Standard Custody & Trust Company. Ripple's regulatory accomplishments now span nearly 40 U.S. state money transmitter licenses, a Major Payment Institution License from Singapore’s Monetary Authority, and a Virtual Asset Service Provider (VASP) registration with the Central Bank of Ireland.
Leveraging its extensive experience, Ripple plans to issue the stablecoin on the XRP Ledger, enhancing liquidity and supporting a broader range of financial use cases. The acquisition also marks the appointment of Standard Custody CEO Jack McDonald as Ripple’s Senior Vice President of Stablecoins, underlining Ripple’s commitment to innovation and regulatory compliance.