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International Business Times
International Business Times
Business
Marvie Basilan

'Compliant Path Forward': Ripple Closes Deal To Acquire Standard Custody

Ripple United States SEC Jack McDonald Crypto NYDFS Stablecoins
Ripple Labs has completed its acquisition deal of NYDFS-regulated Standard Custody. (Credit: CryptoWallet.com Images/flickr.com)

KEY POINTS

  • Ripple said its acquisition of NYDFS-regulated Standard Custody will pave the way for a 'compliant' route
  • Standard Custody's CEO will retain his position and become Ripple's Stablecoins SVP
  • Ripple acquired crypto custodian Metaco last year, but most of its executives have reportedly departed

Fintech giant Ripple has completed its acquisition of digital asset custodian Standard Custody & Trust Company, moving the company behind the XRP token closer to its goal of rolling out a U.S. stablecoin.

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