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Ripple Labs has completed the acquisition of Standard Custody, a digital asset custody provider holding regulatory licenses in the U.S., Singapore, and the EU. This move is designed to accelerate the launch of Ripple’s stablecoin and advance initiatives related to tokenized real-world assets (RWA).
Ripple Labs announced the completion of the Standard Custody acquisition, a key component of its strategy to launch a USD-pegged stablecoin and expand its RWA initiatives.
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Jack McDonald, CEO of Standard Custody, has been appointed Senior Vice President of Stablecoins at Ripple, while retaining his current role. According to McDonald, his primary responsibility will be to market the new product, which is scheduled for release later this year.
Ripple representatives emphasized that the acquisition of Standard Custody will strengthen the regulatory standing of its corporate client solutions. Standard Custody holds a license from the New York State Department of Financial Services (NYDFS), which encompasses approximately 40 payment provider licenses in the U.S., as well as a license from the Monetary Authority of Singapore (MAS) and registration as a virtual asset service provider (VASP) with the Central Bank of Ireland (CBI).
Recently, Ripple announced plans to launch a USD-pegged stablecoin intended for use within its payment solutions targeting corporate clients.
Original article: Ripple Acquires Standard Custody as Part of Stablecoin Strategy published on CoinsPaid Media.
