Ripple bought Swiss custody provider Metaco last year, but Standard has a New York BitLicense.
Ripple has acquired Standard Custody & Trust Company, a United States digital asset custody provider. The company already had ties to Ripple through its executives.
Standard Custody & Trust Company offers custody and escrow services under a charter granted by the New York State Department of Financial Services (NYDFS) and is a qualified custodian in accordance with federal legislation. “Standard Custody's limited purpose trust charter and its money transmitter licenses will contribute to Ripple’s growing portfolio of regulatory licenses,” Ripple said in a statement.
Ripple operates a payment network and supports the XRP (XRP) cryptocurrency. Along with its subsidiaries, Ripple already hold a New York BitLicense, nearly 40 money transmitter licenses in American states, it said.
