<p>In a surprise move, Brad Garlinghouse, the chief executive officer of renowned cryptocurrency enterprise Ripple, has confirmed the company’s decision to abandon its <a href="https://ripple.com/ripple-press/leading-enterprise-crypto-company-ripple-acquires-fortress-trust/?utm_campaign&#61;&amp;utm_medium&#61;organic_social&amp;utm_source&#61;twitter" rel="noopener noreferrer nofollow">previously declared intention to directly acquire Fortress Trust</a>. This announcement comes after <a href="https://ripple.com/" rel="noopener noreferrer nofollow">Ripple</a> had, not so long ago, marked its interest in the acquisition through a formal letter of intent.</p><h3 id="ripple-s-continued-investment-in-fortress-trust">Ripple’s Continued Investment in Fortress Trust</h3><p>Despite the altered course, Ripple’s enthusiasm for Fortress Trust remains strong. The company has chosen to remain an investor, underscoring its belief in the potential of the platform. Garlinghouse went on to commend the Fortress Trust team, highlighting their aptitude and efficiency in devising solutions that address genuine client concerns.</p><h3 id="a-future-of-collaboration">A Future of Collaboration</h3><p>Although Ripple’s strategy deviated from its initial trajectory, the company has a clear vision of fostering its relationship with Fortress Trust. Both firms look forward to prospective collaborations, aiming to bring innovative solutions to the <a href="https://blockchainreporter.net/market/" rel="noopener noreferrer nofollow">market</a>.</p><h3 id="about-fortress-trust">About Fortress Trust</h3><p>For those unfamiliar, Fortress Trust stands as a pivotal platform in the digital asset realm. Their services encompass secure custody, efficient <a href="https://blockchainreporter.net/glossary/trading/" rel="noopener noreferrer nofollow">trading</a>, and meticulous reporting of digital assets. Boasting a client base that includes over 100 institutional entities – ranging from hedge funds and family offices to stock exchanges – their reach is noteworthy. Notably, their support extends to a myriad of cryptocurrencies, including but not limited to <a href="https://blockchainreporter.net/ripple-price/" rel="noopener noreferrer nofollow">XRP</a>, <a href="https://blockchainreporter.net/bitcoin-price/" rel="noopener noreferrer nofollow">Bitcoin</a>, <a href="https://blockchainreporter.net/ethereum-price/" rel="noopener noreferrer nofollow">Ethereum</a>, and Litecoin.</p>

Ripple Abandons Plans to Directly Acquire Fortress Trust

Table of Contents

BlockchainReporter

Other articles published on Sep 28, 2023

Weekly Bitcoin and Altcoin Report – September Week 4

Meta Brought its AI Chatbot; Revealed by Mark Zuckerberg

ConsenSys' Layer 2 network Linea to Issue Soul-Bound Token Voyage XP

Robinhood Stock: Will HOOD Stock Bounce Back From the $9 Level?

VanEck Set to Debut in the Ethereum Futures ETF Space

On-chain Expert Probes the Ethereum Foundation's Link to the Filecoin ICO

Join our free newsletter for daily crypto updates!