Ripple to Buy New York Crypto Trust Company to Expand U.S. Options
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Standard Custody & Trust Co., which has a New York charter, will be the latest acquisition to grow Ripple's regulatory qualifications.
โ Ripple's acquisition plan to grab a company with a New York trust charter will expand the business it's allowed to conduct in the U.S., potentially letting it move beyond its well-known role as a payments network.
โ โ The dealย โย Ripple's second recent purchase of a custody businessย โย must still be approved by the New York regulator.
โ โ โ Ripple struck a deal to acquire Standard Custody & Trust Co., the company said Tuesday, in order to secure a New York trust charter in an ongoing expansion of its U.S. regulatory licensing.
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