Ripple acquires cryptocurrency custody company Metaco for $250 million.

According to BlockBeats news on May 17th, Ripple has acquired Swiss-based cryptocurrency custody company Metaco for $250 million. This acquisition will allow Ripple to expand its product offerings by integrating its technology into custody, issuance, and settlement of tokenized assets. The acquisition was made through a combination of cash and Ripple equity, and Metaco will continue to operate as an independent business unit under the leadership of its founder and CEO, Adrien Treccani.