Ripple Acquires Metaco: Will This Accelerate Institutional Adoption of Digital Assets?

In a move that cements its position as a global leader in enterprise blockchain and cryptocurrency, Ripple has announced the acquisition of Metaco, a prominent institutional crypto custody provider, for $250 million.

What is Metaco?

Founded in 2015, Metaco is a Swiss enterprise technology company that specializes in providing secure digital asset solutions to financial and non-financial institutions. Their flagship product, Harmonize™, is a critical platform that helps institutions orchestrate various digital asset operations. This includes services such as custody (secure storage), trading, tokenization, staking, and smart contract management.

Metaco connects institutions to the decentralized finance (DeFi) ecosystem and decentralized applications (Web3 Dapps). Their software infrastructure serves as the backbone for institutions to interact with the wide range of digital assets available in the market.

The company has become the go-to choice for digital asset infrastructure, earning the trust of major global custodians, banks, regulated exchanges, and corporations. Metaco’s software and technology solutions enable institutions to securely store, trade, issue, and manage various types of digital assets. These assets can include cryptocurrencies, digital currencies, digital securities, and non-fungible tokens (NFTs).

What Ripple’s Acquisition of Metaco Means

Metaco noted that it will continue to operate as an independent brand and business unit under the leadership of Adrien Treccani, the company’s esteemed Founder and CEO.

The collaboration between Ripple and Metaco is poised to expedite the execution of their shared product roadmap, resulting in the rapid delivery of innovative solutions. By leveraging Ripple’s resources, Metaco noted that it will enhance its client success delivery capabilities, further solidifying its position as the industry’s institutional standard for digital asset custody and orchestration technology.

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Brad Garlinghouse, Ripple’s CEO, expressed his enthusiasm about the acquisition, emphasizing Metaco’s prowess in institutional digital asset custody. He stated, “Metaco is a proven leader in this space, boasting an exceptional executive team and an unrivaled track record with customers. Ripple, with its financial strength and advantageous position in critical crypto infrastructure areas, will leverage this acquisition to expand its product suite and global presence.”

Adrien Treccani, Founder and CEO of Metaco, echoed Garlinghouse’s sentiments, highlighting the shared vision between the two companies. Treccani commented, “Our mission has always been to enable institutions to flourish in the digital asset economy by providing robust infrastructure and expertise. We are thrilled to join forces with Ripple, a team that shares our passion. This partnership allows Metaco to leverage Ripple’s scale and market strength, accelerating our progress and bringing added value to our clients. We are committed to exceeding institutional demand by delivering excellence in everything we do.”

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