One of the largest cryptocurrency companies based in the USA and the power behind XRP, Ripple, has announced exciting news. Acquiring licensed companies in the crypto industry has been a common practice for years, and Ripple has now purchased a company with an existing license to bypass the regulatory process. Although approvals are not yet complete, this move could enhance Ripple’s strength.
Ripple News
Ripple has been experiencing issues with US regulators for a long time and has been taking steps to establish centers in different countries. However, they are still not detached from the US and express their intention to fight until the end to maintain their US-based structure. Now, a new development confirming their intention to stay in the US has been announced.
Ripple is acquiring Standard Custody & Trust Co, a company with permission and a license to tokenize assets. Ripple President Monica Long stated;
“We want to offer this infrastructure to financial institutions on a broader scale (RWA, tokenization of real-world assets).”
While Ripple continues to fight for some regulatory approvals, including a money transfer license, it has set its sights on licensed companies to support its growth. Although this development could support Ripple’s growth, it is not directly related to XRP, and no movement in the altcoin’s price was observed.
