Ripple, whose lawsuit with the SEC has been going on for about 2.5 years, has recently announced that it has acquired Switzerland-based crypto company Metaco, while continuing its global operations. Ripple paid $250 million for Metaco.
San Francisco-based payments firm Ripple has announced that it has acquired Swiss-based crypto custody firm Metaco for $250 million.
“We expect demand to increase”
The well-known CEO of Ripple, Brad Garlinghouse, made a statement regarding the company's Metaco acquisition, saying that they expect the demands from corporate companies to increase even more in the coming period:
“Crypto markets are having a tough bear season, but we focused on infrastructure and did not feel much of the difficulties of this bear season. As a result, if you are creating a solution to a problem, there will definitely be demand. We expect the demands on the corporate side to increase further in the future.”
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It is important that it is based in Switzerland…
Garlinghouse, who was asked about the acquisition of a Swiss-based company by Ripple, which has been on trial with the SEC for more than 2 years, gave the following answer:
“The fact that Metaco is based in Switzerland and therefore not dependent on US regulators has increased our interest in the company. In markets outside the US, the regulatory pathways are clearer and clearer. It is this openness and clarity that enables companies to invest.”
The Ripple CEO also said that they are considering the company's IPO, but they are in no rush to do so.
Deal with cash and shares…
The Ripple company, which bought Metaco for $ 250 million, will also be able to provide services to store, issue and transfer tokenized assets. According to the agreement between the parties, the payment was made in cash and stocks. Thus, Ripple became the sole shareholder in Metaco.
