Ripple has acquired Metaco, a Swiss company, for $250 million.

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12:39 | 17 May 2023

Ripple has acquired Metaco, a Swiss company, for $250 million.

In its first acquisition, San Francisco-based Ripple acquired Swiss company Metaco for $250 million – half in cash and half in stock, according to Ripple.
So what do each of these companies do and why do these acquisitions make sense?

Privately held Ripple is the sixth largest cryptocurrency exchange in the world.
Metaco makes technology that allows financial institutions to store and manage digital assets. It’s a big deal, especially after several big firms collapsed, leaving investors with big losses.

Why Metaco?

The fact that Metaco is based out of the U.S., where crypto regulation is much clearer, is a bonus for Ripple as the U.S. Securities and Exchange Commission fights for the future of crypto regulation.
The Swiss company is also a legal player in its own right with clients such as Citi, BNP Paribas and the digital asset division of Societe Generale.
Metaco has had four funding rounds and raised a total of $20 million, with the most recent Series A financing raised on July 14, 2020. Metaco is funded by 11 investors. Verve Ventures and Standard Chartered Bank are the latest investors.
Investor enthusiasm for cryptocurrencies waned after cryptocurrency prices fell in 2022. A slew of major bankruptcies of cryptocurrency companies have not helped either. Yes, we’re talking about FTX again.
In a statement on his website, Ripple CEO Brad Garlinghouse said: “With the strength of our balance sheet and financial position, Ripple will continue to build its advantage in areas critical to crypto infrastructure. Metaco’s involvement is critical to our growing product suite and expanding global footprint.”

Ripple has raised a total of $293.8 million in 14 funding rounds. The most recent financing was raised on Aug. 21, 2021 as part of a Series B round. Ripple is funded by 43 investors, with the most recent investors being Uday Kumar Bangalore Shivaraman and Azure Ventures Group.

We hope you found this information helpful. Stay tuned and stay tuned.

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