Ripple, Which Developed XRP, Can Reach More Institutional Customers With This Move - Coin Newsletter

According to a statement made by Ripple, the developer of XRP, the company plans to acquire Standard Custody & Trust.

According to a statement by Ripple, the company has reached an agreement to acquire New York-based digital asset platform Standard Custody.

If the deal is approved by the legal authorities, Ripple will become the sole owner of the platform. Standard Custody is licensed as a payment institution in the United States.

Ripple will also be able to provide more comprehensive services to financial institutions using the company's license from New York. Ripple wants to offer its customers not only a "payment network**, but also a wider range of financial instruments linked to blockchain technology.

Monica Long, Head of Ripple, said: "We want to bring more and more pieces of this infrastructure to financial institutions. We find that this gives us flexibility." *Said.

Standard Custody provides custody and clearing services for digital assets to institutional clients.