Blockchain firm Ripple has acquired Fortress Trust, a chartered trust company in Nevada, adding to its existing roster of regulatory licenses across multiple U.S. states.

Ripple, a blockchain firm, has expanded its reach with the acquisition of Fortress Trust, a Nevada-based chartered trust company specializing in crypto and Web3 technologies.

While the financial details of this transaction were not disclosed, it was reported that the amount was less than the $250 million Ripple spent on acquiring custody firm Metaco in May.

The acquisition serves as a strategic maneuver for Ripple in the regulatory landscape. The firm has bought a Nevada regulatory license through this deal, supplementing its existing New York BitLicense and money transmitter licenses in 30 U.S. states.

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Author: Bralon Hill

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