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Title: Ripple Expands its U.S. Footprint with the Acquisition of Trust Company

United Kingdom, 16th Feb 2024 - Despite its ongoing legal battle with the U.S. Securities and Exchange Commission over the classification of XRP, global payments giant Ripple continues to expand its presence in the United States. On Tuesday, the company announced the acquisition of Standard Custody & Trust Co., a move aimed at securing a New York trust charter and unlocking new opportunities in the world's largest economy. In this article, Joseph Stern, an expert from CapitalClique, sheds light on this latest acquisition by Ripple. The Acquisition: Expanding Capabilities and Regulatory ReachThe acquisition of Standard Custody & Trust by Ripple, the terms of which remain undisclosed and the New York Department of Financial Services's approval is awaiting, marks a significant step in the company's U.S. strategy. The deal brings a crypto custody and settlement business under Ripple's umbrella, allowing them to offer in-house custody solutions to their clients, eliminating the need for third-party partners. This acquisition follows a similar move last year when Ripple bought Metaco, another cryptocurrency custody firm. The key driver behind this acquisition is the limited-purpose trust charter held by Standard Custody & Trust. This charter allows Ripple to offer a wider range of financial services, including the tokenization of assets, directly to its clients, particularly financial institutions seeking to leverage blockchain technology. This move signifies Ripple's ambition to move beyond its core payments network and into other financial products where its institutional clients can benefit from blockchain solutions. During a CoinDesk interview, Monica Long, President of Ripple, emphasized the company's long-term goal of providing more infra...

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