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Here is the revised news article: Ripple to Acquire Standard Custody to Expand U.S. Regulatory Footprint

Ripple has announced a deal to acquire the New York-based digital asset platform Standard Custody and Trust Company, pending regulatory approval. The acquisition aims to expand Ripple’s presence in the U.S. financial sector, adding crypto custody and settlement services.

Enhanced Compliance Capabilities

Once the acquisition is finalized, Ripple will become the sole shareholder of Standard Custody, leveraging its limited-purpose trust charter and money transmitter licenses to enhance its regulatory license portfolio. This allows Ripple’s clients to directly use its custody services instead of outsourcing.

The move aligns with Ripple’s strategy to build comprehensive infrastructure, including compliance services, for financial institutions exploring blockchain applications.

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End-to-End Solutions

Monica Long, President of Ripple, views the acquisition as crucial to delivering full end-to-end solutions to financial institutions interested in blockchain applications. Standard Custody secured a New York trust license in 2021 and provides digital asset custody services.

Ripple has previously acquired cryptocurrency custody firm Metaco and continues to scale in the European market. It has partnerships with leading financial institutions globally.

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