Ripple

February 14, 2024

Ripple's Acquisition of Standard Custody & Trust: A Milestone in Global Expansion and Regulatory Compliance

Liam O'Sullivan
Written byLiam O'SullivanWriter
Researched byNikos PapadopoulosResearcher

Introduction

Brad Garlinghouse, CEO of Ripple, has celebrated a series of epic wins for the fintech giant. In a tweet, the Ripple CEO celebrated the company's latest acquisition of Standard Custody and Trust, including its licensing wins.

Ripple's Acquisition of Standard Custody & Trust: A Milestone in Global Expansion and Regulatory Compliance

Ripple's Regulatory Licenses

In Q4, Ripple (including subsidiaries) gained licenses in major markets, including its full Major Payments Institution license from the Monetary Authority of Singapore (MAS) and its registration as a Virtual Asset Service Provider by the Central Bank of Ireland. To date, Ripple holds a New York BitLicense and has secured money transmitter licenses in nearly 40 jurisdictions in the U.S.

Acquisition of Standard Custody & Trust Company

Ripple announced on Tuesday that it had agreed to acquire Standard Custody & Trust Company, an enterprise-grade regulated platform for digital assets. This step reinforces Ripple's commitment to regulatory compliance while also allowing the company to expand its existing product offerings and explore new, complementary products. With the acquisition, Standard Custody's limited purpose trust charter and money transmitter licenses will be added to Ripple's growing regulatory license portfolio.

Ripple's Global Expansion

Ripple's worldwide momentum continues to be unrivaled, serving enterprises all over the world. The acquisition of Standard Custody followed last year's acquisition of Metaco, a custody solution. Ripple recently announced custody collaborations with top-tier institutions such as HSBC, BBVA, and Zodia Custody, as well as the expansion of its Ripple Payments product into new territories, such as Africa. Ripple has doubled down on its core businesses of payments and custody, supporting live commercial custody offerings in 20 regulatory jurisdictions and payments to 70 countries worldwide.

Legal Victory and Ripple's Impact

In 2023, a key legal victory in the Ripple lawsuit represented a watershed moment in determining XRP's legal standing. This was the first industry victory against the SEC, setting a precedent for other tokens in the United States.

Conclusion

Brad Garlinghouse's celebration of Ripple's acquisition of Standard Custody and Trust highlights the company's commitment to regulatory compliance and its continuous global expansion. With a growing portfolio of regulatory licenses and strategic acquisitions, Ripple is well-positioned to serve enterprises worldwide in the fields of payments and custody. The legal victory in the Ripple lawsuit further solidifies Ripple's impact on the industry and sets a precedent for other tokens. Investors and businesses can confidently explore Ripple's offerings, knowing that the company prioritizes compliance and innovation.

About the author
Liam O'Sullivan
Liam O'Sullivan
About

Liam O'Sullivan, an Irish digital maestro, seamlessly fuses his impeccable command of English with an enthusiastic penchant for online gaming. Highly regarded for his localization expertise, Liam fine-tunes online casino guides, ensuring they resonate profoundly with the diverse English-speaking populace.

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