In a recent development, blockchain payment company Ripple has announced the acquisition of New York-based crypto trust company Standard Custody & Trust Co. This move aims to enhance Ripple’s regulatory compliance capabilities and broaden its product offerings.

Ripple’s Regulatory Compliance Reinforced? 

According to the press release issued on February 13, the acquisition aligns with the crypto company’s commitment to regulatory compliance. It will enable the company to strengthen its existing offerings while exploring new and complementary products.

The acquisition of Standard Custody contributes to Ripple’s growing portfolio of regulatory licenses, which now includes a New York BitLicense, nearly 40 money transmitter licenses across the United States, a Major Payment Institution License (MPI) from the Monetary Authority of Singapore (MAS), and a Virtual Asset Service Provider (VASP) registration with the Central Bank of Ireland. 

Ripple President Monica Long emphasized the company’s dedication to enabling enterprises to leverage the benefits of blockchain across various financial use cases. 

As announced, by expanding its license portfolio and making strategic acquisitions, the crypto firm aims to strengthen its infrastructure solutions and take advantage of current market opportunities. Ripple’s press release further notes:

We will continue to leverage our strong financial standing to expand our product offerings, support new initiatives on the product roadmap, and serve a broader segment of customers.

CEO Anticipates Improved Product Offerings 

The acquisition of Stan

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Author: Ronaldo Marquez

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