Ripple Acquires Metaco for $250M, Custody Solutions Could Soon Follow

Metaco’s custody technology has been previously used by Citi and BNP Paribas


MJgraphics/Shutterstock modified by Blockworks


Ripple is spending $250 million to acquire Metaco, a Swiss firm that specializes in crypto custody for institutional investors. 

Ripple is primarily known for its payment services, having launched one of the oldest blockchain-based payment networks. With Metaco being its first major acquisition, leadership at Ripple is looking to expand its services so customers can custody their digital assets with its forthcoming product suite.

Ripple CEO Brad Garlinghouse lauded Metaco’s track record in digital asset custody, and Monica Long, President of Ripple, further explained the company’s plans when it comes to allowing customers to hold their crypto on its platform.  

“Custody is a key facet of the infrastructure required for enterprise crypto services. Adding these capabilities to Ripple’s already growing product solutions means we can continue to support customers as they look to utilize crypto and blockchain for real-world use cases across all phases of adoption,” Long said. 

Sagar Shah, Head of Custody at Ripple, told Blockworks that they’ve spent nearly two years searching for crypto custodians and evaluating their services. Metaco simply stood out among the rest, with its “first-rate bank customers,” and a “crypto native team.”

Some of Metaco’s banking customers include Citi and BNP Paribas, both of which partnered with Metaco in mid-2022 to integrate its digital asset custody platform called Harmonize into their existing infrastructures.

Metaco Founder and CEO Adrien Treccani said he was “delighted” to join Ripple and said the acquisition will allow Metaco to scale up in the market. 

“Our mission has always been to enable institutions to thrive in the digital asset economy,” Treccani said. “This deal will enable Metaco to leverage Ripple’s scale and market strength to reach our goals and deliver value to our clients at a faster pace.”

Following the Metaco deal, which is now closed, Ripple will become its sole shareholder, though Metaco “will continue to operate as an independent brand and business unit.” That business unit will be helmed by Treccani.

Updated May 17, 2023 at 8:24 am ET: Added quote and context.

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.


Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2023

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Research Report Cover Vertex.jpg


The proliferation of new perp DEXs has led to fragmented liquidity across various DEXs and chains. Vertex, known for its vertically-integrated DEX that includes spot, perpetual, and integrated money markets, is now tackling cross-chain liquidity fragmentation through horizontal integration with the launch of new Edge instances. Vertex's integrated offerings and cross-margined account structure amplify the benefits of new instances: native cross-chain spot trading, optimized cross-chain basis trading, consistent interest rates, reduced bridging friction, and more.


Partnering with EtherFi and Angle, the fully on-chain perp DEX features bespoke collateral



Gavin Wood introduced the next evolutionary step for the Polkadot network: the Join-Accumulate Machine, or JAM


The side events were the places to be at Consensus 2024, according to attendees


Also, who’s come out swinging in the spot ether ETF fee war — and who could undercut them


I know it is not in their nature, but US regulators could learn a lot by researching the digital asset frameworks that overseas regulators have already gotten right


Also, the ETF hype train can count out at least one member