Ripple expands operations in Switzerland

5:18 PM 17 May 2023

Ripple, one of the largest cryptocurrency projects, has acquired Swiss startup Metaco, which provides digital asset storage services to clients such as Citi and BNP Paribas. This is one of the largest acquisitions in the crypto industry over the past year, with the acquisition valued at $250 million paid by Ripple from its own funds. The decision to expand into overseas markets, itself, comes in the aftermath of a drawn-out battle with the US Securities and Exchange Commission.

Despite initial gains driven by news of the acquisition, Ripple is negating much of the upside, dictated by Bitcoin's relative weakness. Source: xStation5

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