"Wow lately there has been positive news about Ripple."
This latest news must have shocked its community as payments company Ripple Labs Inc reportedly acquired Switzerland-based cryptocurrency company Metaco for $250 million.
The acquisition, which makes Ripple the sole shareholder of Metaco, was completed through a combination of equity and cash, a spokesperson for the payments company commented.
Through Metaco's technology that facilitates the storage and management of digital assets, Ripple will further expand its services by offering custody, issuance and crypto solutions to institutional investors.
Please be informed that many companies such as Citi, BNP Paribas and Societe Generale have successfully developed new business capital based on the services offered by Metaco which is becoming more and more popular.
That streak, Ripple will definitely have a chance to develop and investors may start to be more daring to invest in crypto after the market 'bleeding' caused by the collapse of FTX last year.
According to Brad Garlinghouse, the Chief Executive Officer (CEO) of Ripple, he believes that the demand for crypto custody among institutional investors will increase as they start to care about how their assets are stored.
But it should be remembered that the acquisition took place while the Securities and Exchange Commission (SEC) of the United States (US) is still acting aggressively against crypto exchanges, where its lawsuit with the regulator has also not reached a decision until now.