BCB Group Moves Custody of Digital Asset Operations to Metaco’s Platform
The move will allow the crypto payments firm to consolidate its custody technology.
Ripple-Owned Crypto Custody Firm Metaco’s CEO and Head of Product Depart
Metaco CEO Adrien Treccani and Chief Product Officer Peter DeMeo have left the crypto custody firm that was acquired by Ripple last year.
BBVA migrates its crypto custody service to Ripple-owned Metaco’s Harmonize
Harmonize will allow the bank to connect to other blockchains, apart from Bitcoin and Ethereum, which suggests the potential expansion of BBVA’s crypto services.
IBM unveils new air-gapped cold storage solution for digital assets
The new system works a lot like a time delay safe for digital assets with a policy engine to broker communications.
IBM Introduces New Cold Storage Tech for Crypto Assets
The new Offline Signing Orchestrator tech is being used by IBM’s long standing partner in the crypto space, Ripple-owned custody firm Metaco.
Standard Chartered-Backed Zodia Custody Joins Ripple-Owned Metaco’s Global Crypto Storage Network
Ripple Excites XRP Army as Metaco Acquisition Brings Banks Closer
Earlier this month, Ripple-owned infrastructure provider Metaco said it was working with banking powerhouse HSBC.
HSBC to Offer Tokenized Securities Custody Service for Institutions
The platform, planned for 2024, complements its new offering for tokenized gold as well as one for issuing digital assets.
Citigroup Reviews Partnership With Metaco, in Talks With Other Crypto Custodians: Bloomberg
Banking giant Citigroup (C) is reviewing its partnership with crypto custody firm Metaco one month after Ripple Labs announced that it agreed to acquire Metaco for $250 million.
Ripple Acquires Crypto Custody Firm Metaco In $250 Million Deal
US-based cryptocurrency company Ripple has recently announced its acquisition of Metaco. Metaco is a Swiss-based crypto custody firm and the deal, valued at $250 million, marks Ripple’s foray into the acquisition space.
Metaco specializes in developing cutting-edge technology that enables financial institutions to securely store and effectively manage digital assets. Some of its notable clients comprise Citi, BNP Paribas, and the digital asset arm of Societe Generale.
After the acquisition, Ripple will become the exclusive shareholder of Metaco. It will, however, allow the company to retain its independent brand identity and continue its operations uninterrupted.
Nevertheless, this acquisition holds significant importance for Ripple. Its own cryptocurrency, XRP, currently ranks as the sixth largest in the world based on market capitalization.
Ripple expressed that this acquisition will serve as a catalyst for expanding its institutional offering. Additionally, this will also strengthen its position in the cryptocurrency market.
By integrating Metaco’s expertise and technology, Ripple aims to enhance its capabilities in providing secure storage and management solutions for digital assets.
Investor Caution Has Been Growing Regarding Crypto Asset Storage
Following a decline in cryptocurrency prices in 2022 along with notable collapses of major crypto firms like the U.S. exchange FTX, investor enthusiasm for crypto assets has waned.
A critical factor contributing to this shift in sentiment is the growing alertness among investors regarding the storage of crypto assets. Several crypto platforms had frozen their withdrawals resulting in significant losses for investors. This has prompted them to choose and prioritize secure storage solutions to store their digital assets.
Anticipating a surge in demand from institutional investors, Ripple CEO Brad Garlinghouse expressed his expectation for an upswing in the need for crypto custody services.
He also stated:
By focusing on the infrastructure … you’re not really subject to the same gyrations of the crypto winters. If ultimately you’re solving a clear problem at scale for these customers, there’s going to be demand there.
Amidst the intensifying enforcement actions by US regulators against crypto firms, CEO Brad Garlinghouse highlighted the added appeal of Metaco, being based in Switzerland and having a workforce comprised of non-US employees.
Garlinghouse emphasized that the regulatory landscape in markets outside the United States offers greater and better clarity. This enables companies to make sound and informed investments.
He noted that these transparent and well-defined rules in other jurisdictions have been responsible for creating an environment conducive to business growth and innovation.
Following its recent private financing round, Ripple was valued at $15 billion even though the company had encountered a significant level of regulatory ambiguity.
The uncertainty escalated when the Securities and Exchange Commission (SEC) filed a lawsuit against the company and two of its executives, alleging the sale of unregistered securities. This legal action has further added to the regulatory challenges faced by the crypto giant.
Ripple acquires Swiss blockchain custody firm Metaco for $250M
Metaco raised $17 million in a Series A funding round in 2020. The company raised $20 million in total before being acquired.
Ripple Buys Crypto Custody Firm Metaco for $250M
Metaco will continue to operate as an independent business unit led by CEO and founder Adrien Treccani.
Digital Asset Tech Provider Metaco Secures Partnership With Liechtenstein Private Bank
VP Banks follows Citibank, Societe Generale, DekaBank and DZ Bank in selecting Metaco to assist the development of their digital asset services.
DZ, Germany’s Second-Largest Bank, Taps Metaco for Digital Asset Custody
This is the fourth such partnership Metaco has made with major financial institutions in eight months.
Union Bank of the Philippines launches Bitcoin and Ethereum trading
UnionBank, one of the largest universal banks in the Philippines, debuts cryptocurrency trading via a partnership with a Swiss crypto firm.
Union Bank of the Philippines selects Metaco and IBM to facilitate digital asset custody operations
“With the recent launch of our APAC headquarters in Singapore, we can ensure that we continue to offer best-in-class services to UnionBank and other clients in the region,” says Patrick Enjalbal, VP Customer Success managing director of Asia-Pacific region at Metaco.
These Two Firms Want to Upgrade Crypto Infrastructure for Banks and Exchanges
Custody tech provider METACO and forex trading platform Cobalt have teamed up in a bid to rewire the financial system to handle cryptocurrency.
Standard Chartered Bank to Launch Crypto Trading for Institutional Investors: Sources
Standard Chartered has gathered a group of crypto exchanges for a new digital asset trading platform tailored to the institutional market.
Spain’s Second-Largest Bank Will Soon Launch Crypto Services: Sources
BBVA is poised to enter the cryptocurrency trading and custody space, according to two people familiar with the plans.