Ripple Snaps Up Standard Custody, Eyes Stablecoin Dominance

Ripple, the leader in enterprise blockchain and cryptocurrency solutions, has completed its acquisition of Standard Custody & Trust Company, a regulated custodian of digital assets. With this acquisition, which has secured all necessary regulatory approvals, Ripple aims to expand into new markets, including stablecoins, and enhance its existing product offerings. Ripple’s commitment to regulatory compliance […]

The post Ripple Snaps Up Standard Custody, Eyes Stablecoin Dominance appeared first on Coin Edition.

Ripple Snaps Up Standard Custody, Eyes Stablecoin Dominance

  • Ripple acquires Standard Custody, enhancing its regulated digital asset custody capabilities.
  • Jack McDonald appointed as Senior VP of Stablecoins, leveraging his extensive financial experience.
  • Ripple plans to launch a USD-backed stablecoin, expanding its blockchain financial solutions.

Ripple, the leader in enterprise blockchain and cryptocurrency solutions, has completed its acquisition of Standard Custody & Trust Company, a regulated custodian of digital assets. With this acquisition, which has secured all necessary regulatory approvals, Ripple aims to expand into new markets, including stablecoins, and enhance its existing product offerings. Ripple’s commitment to regulatory compliance is evident in its history of working with global regulators.

This transaction adds a New York Department of Financial Services-regulated limited purpose trust company to Ripple’s portfolio. Ripple already holds nearly 40 money transmitter licenses in the U.S., in addition to a major payment institution license from Singapore and a Virtual Asset Service Provider registration with the Central Bank of Ireland.

The acquisition is a strategic move to strengthen Ripple’s block…

The post Ripple Snaps Up Standard Custody, Eyes Stablecoin Dominance appeared first on Coin Edition.