United

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<div class="coinjournal">
 <ul>
  <li>Ripple acquires Standard Custody &amp; Trust Co. to bolster US presence and regulatory compliance.</li>
  <li>The acquisition enables Ripple to expand service offerings, including asset tokenization and custody solutions.</li>
  <li>The move comes amid reports of an agreed settlement between Ripple and the US SEC.</li>
 </ul>
 <p>Ripple has announced the acquisition of Standard Custody &amp; Trust Co., a wholly owned subsidiary of PolySign, marking its second recent purchase of a custody business.</p>
 <p>With a focus on regulatory compliance and <a rel="noopener noreferrer nofollow" title="expand" href="https://thebittimes.com/tag/expand.html">expand</a>ing its service offerings, Ripple’s acquisition aims to pave the way for broader financial capabilities within the United States.</p>
 <h2 id="ripple-s-expansion-into-the-us-market">Ripple’s expansion into the US market</h2>
 <p>Ripple, known for its innovative blockchain-based payment solutions, is strategically positioning itself to further penetrate the US financial sector.</p>
 <p>Despite ongoing legal disputes, Ripple remains committed to enhancing its regulatory qualifications and operational capabilities within the country. By acquiring Standard Custody &amp; Trust Co., a company with a New York trust charter, Ripple aims to unlock new opportunities for growth and diversification in the US market.</p>
 <p>In a tweet, Brad Garlinghouse, Ripple’s CEO, has reiterated the importance of the acquisition. He has stated:</p>
 <p><em>“With Standard Custody, we’ll be able to improve existing product offerings for our customers, as well as explore new products and use cases, all in a fully compliant way. To date, Ripple has secured: nearly 40 U.S. money transmitter licenses, MPI license from MAS, and VASP registration with Central Bank of Ireland (and counting!)”</em></p>
 <h2 id="enhancing-regulatory-compliance-and-service-offerings">Enhancing regulatory compliance and service offerings</h2>
 <p>The acquisition of Standard Custody &amp; Trust Co. reflects Ripple’s proactive approach to addressing regulatory challenges and tapping into the potential of the US financial landscape.</p>
 <p>By obtaining a New York trust charter through this acquisition, Ripple gains the ability to conduct a wider range of business activities within the United States. This includes offering in-house services to financial institutions interested in leveraging blockchain technology for asset tokenization and custody solutions.</p>
 <p>With this strategic move, Ripple aims to provide its customers with enhanced flexibility and comprehensive services, positioning itself as a key player in the evolving financial ecosystem.</p>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ripple-to-acquire-standard-custody-trust-co-to-expand-us-presence-tbt79716.html">https://thebittimes.com/ripple-to-acquire-standard-custody-trust-co-to-expand-us-presence-tbt79716.html</a></p>

Ripple to acquire Standard Custody & Trust Co. to expand US presence

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TheBitTimes

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