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<ul>
 <li>Ripple acquired Standard Custody &amp; Trust Company, enhancing its digital asset offerings and regulatory compliance.</li>
 <li>Jack McDonald will lead Ripple’s stablecoin development as Senior Vice President while remaining CEO of Standard Custody.</li>
 <li>Ripple holds nearly 40 U.S. money transmitter licenses and other major licenses, reinforcing its role in the digital asset industry.</li>
</ul>
<p>Ripple has acquired Standard Custody &amp; Trust Company, a regulated custodian of digital assets . The acquisition, which was <a href="https://cryptonewsland.com/xrp-anticipates-surge-after-ripples-us-market-return-with-acquisition/" target="_blank" rel="noopener noreferrer nofollow">initially announced in February 2024</a>, has now obtained all necessary regulatory approvals.&nbsp;</p>
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   <p lang="en" dir="ltr">Earlier this year, Ripple announced its intent to acquire <a href="https://twitter.com/StandardCustody?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@StandardCustody</a>, and today, we're pleased to share that the acquisition is now complete!<br><br>Learn how this deal further enables Ripple to deliver on building the Internet of Value:<a href="https://t.co/pS3QxeOOWm" rel="noopener noreferrer nofollow">https://t.co/pS3QxeOOWm</a></p>— Ripple (@Ripple) <a href="https://twitter.com/Ripple/status/1800461887207071974?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 11, 2024</a>
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<p>This strategic move aims to strengthen Ripple’s position in the digital asset market, expand its product offerings, and support new initiatives such as the upcoming stablecoin. It is anticipated that the acquisition of Standard Custody will greatly expand Ripple’s current product offering.&nbsp;</p>
<p>By adding Standard Custody’s license from the <a href="https://www.dfs.ny.gov/" target="_blank" rel="noopener noreferrer nofollow">New York Department of Financial Services</a> (NYDFS) and its regulatory compliance, Ripple demonstrates its dedication to strong regulatory frameworks. This addition will help institutional customers receive better service by offering safe and legal options for value exchange, tokenization, and storage.</p>
<p>Jack McDonald, the CEO of Standard Custody, will <a href="https://x.com/bgarlinghouse/status/1800504793246638534" target="_blank" rel="noopener noreferrer nofollow">join</a> Ripple as Senior Vice President of Stablecoins following the acquisition. He is going to remain on as Standard Custody’s CEO, spearheading the effort to satisfy the market’s growing demand for stablecoins that provide reliability, stability, and usability.</p>
<p>In 2023, <a href="https://cryptonewsland.com/ripples-250m-metaco-deal-ushering-a-new-era-in-crypto-custody-services/" target="_blank" rel="noopener noreferrer nofollow">Ripple bought Metaco</a>, which was a top solution for institutions to store their digital assets. By integrating Standard Custody, Ripple broadens its reach and emphasizes the growing significance of digital assets, stablecoins, CBDCs, and tokenized RWAs.</p>
<p>Currently, Ripple is registered as a Virtual Asset Service Provider (VASP) with the Central Bank of Ireland, has almost forty money transmitter licenses throughout the United States, and a Major Payment Institution License from the Monetary Authority of Singapore.</p>
<p>Ripple has taken a major strategic step toward expanding its business with the acquisition of Standard Custody &amp; Trust Company. This action is anticipated to strengthen Ripple’s position as a leader in the developing digital asset market by improving applications in cross-border payments and digital asset custody.&nbsp;</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/ripples-250m-metaco-deal-ushering-a-new-era-in-crypto-custody-services/" rel="noopener noreferrer nofollow">Ripple’s $250M Metaco Deal: Ushering a New Era in Crypto Custody Services</a></li>
 <li><a href="https://cryptonewsland.com/ripples-metaco-shines-double-victory-at-leaders-in-custody-awards-2023/" rel="noopener noreferrer nofollow">Ripple’s Metaco Shines: Double Victory at Leaders in Custody Awards 2023</a></li>
 <li><a href="https://cryptonewsland.com/polkadot-ecosystem-thrives-via-zodia-custody-and-parity-technologies-partnership/" rel="noopener noreferrer nofollow">Polkadot Ecosystem Thrives via Zodia Custody and Parity Technologies Partnership</a></li>
 <li><a href="https://cryptonewsland.com/hsbc-announces-tokenized-securities-custody-service-in-partnership-with-ripple/" rel="noopener noreferrer nofollow">HSBC Announces Tokenized Securities Custody Service in Partnership with Ripple</a></li>
 <li><a href="https://cryptonewsland.com/liminal-custody-secures-key-adgm-fsp-license-reinforcing-leadership-in-digital-asset-custody/" rel="noopener noreferrer nofollow">Liminal Custody Secures Key ADGM FSP License, Reinforcing Leadership in Digital Asset Custody</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/ripple-completes-standard-custody-acquisition-unveils-new-leadership-role-for-stablecoin-development/" rel="noopener noreferrer nofollow">Ripple Completes Standard Custody Acquisition, Unveils New Leadership Role for Stablecoin Development</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Ripple Completes Standard Custody Acquisition, Unveils New Leadership Role for Stablecoin Development

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