Brad Garlinghouse, CEO of Ripple, has celebrated a series of epic victories for the fintech giant. In a tweet, Ripple’s CEO celebrated the company’s latest acquisition of Standard custody and Trust, including its obtained licenses.
Brad Garlinghouse, CEO of Ripple, has celebrated a series of epic victories for the fintech giant. In a tweet, Ripple’s CEO celebrated the company’s latest acquisition of Standard custody and Trust, including its obtained licenses.
In the fourth quarter, Ripple (including its subsidiaries) obtained licenses in major markets, including its full Major Payments Institution license from the Monetary Authority of Singapore (MAS) and its registration as a Virtual Asset Service Provider by the Bank Central Ireland.
To date, Ripple holds a New York BitLicense and has obtained money transmission licenses in nearly 40 US jurisdictions.
Ripple announced on Tuesday that it had agreed to acquire Standard Custody & Trust Company, an enterprise-grade regulated platform for digital assets.
This step reinforces Ripple’s commitment to regulatory compliance while allowing the company to expand its existing product offerings and explore new and complementary products.
With the acquisition, Standard Custody’s limited purpose trust and money transfer licenses will be added to Ripple’s growing portfolio of regulatory licenses.
Ripple’s global momentum remains unrivaled, serving businesses around the world. The acquisition of Standard Custody followed last year’s acquisition of Metaco, a custody solution.
Ripple recently announced custody collaborations with top-tier institutions such as HSBC, BBVA and Zodia Custody, as well as the expansion of its Ripple Payments product to new territories, such as Africa.
Ripple has doubled down on its core payments and custody businesses, supporting live commercial custody offerings in 20 regulatory jurisdictions and payments to 70 countries worldwide.
In 2023, a key legal victory in the Ripple lawsuit represented a turning point in determining the legal status of XRP. This was the industry’s first victory against the SEC, setting a precedent for other tokens in the United States.
