Ripple completes acquisition of digital asset custodian Standard Custody & Trust Company

ChainCatcher news, Ripple announced that it has completed the acquisition of Standard Custody & Trust Company, a New York-based crypto trust company. This acquisition adds a limited-purpose trust company regulated by the New York Department of Financial Services to its portfolio of licenses. Additionally, Ripple announced the appointment of Jack McDonald as Senior Vice President of Stablecoins, while he continues to serve as the current CEO of Standard Custody.

Ripple has stated that once this acquisition is approved, it will be able to conduct cryptocurrency custody and settlement services.