David Vance

Trillion

<p>The post <a href="https://coinpedia.org/news/ripples-strategic-entry-into-10-trillion-crypto-custody-market-with-metaco-and-hsbc/">Ripple Enters $10 Trillion Crypto Custody Market with Metaco, HSBC Partnership</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In a recent interview on the <a href="https://youtu.be/xansTf2Uw6E?si=OSZrCU5gom4JgJra&amp;t=1205">Thinking Crypto Podcast</a>, <a href="https://coinpedia.org/news/ripples-cto-chooses-ripple-shares-over-xrp-an-inside-look/">Ripple CTO David Schwartz</a> shared insights into Ripple’s strategic move into the projected $10 trillion crypto custody market. The discussion focused on Ripple’s acquisition of Metaco, a custody-focused firm, and its subsequent partnership with global banking giant HSBC.</p> 
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio">
 <div class="wp-block-embed__wrapper"> <iframe title="David Schwartz Talks Ripple XRP Ledger, AMM, Metaco HSBC, CBDC &amp; Stablecoin Pilots &amp; Tokenization" width="1220" height="686" src="https://www.youtube.com/embed/xansTf2Uw6E?start=1205&amp;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe> 
 </div>
</figure> 
<p>Read on for a simple breakdown of what he had to say. </p> 
<h2 class="wp-block-heading" id="h-metaco-acquisition-ripple-s-power-move">Metaco Acquisition: Ripple’s Power Move</h2> 
<p>Schwartz stressed the importance of a robust custody solution in Ripple’s goal to be a comprehensive hub for institutional crypto adoption. The quarter-billion-dollar acquisition of <a href="https://coinpedia.org/news/ripple-acquires-metaco-in-250m-crypto-custody-deal-xrp-price-surge-nearly-6/">Metaco</a> positions Ripple to offer a range of services, covering XRP Ledger access, tokenization, and seamless payment solutions.</p> 
<p>Excitement surrounded the partnership with HSBC as Schwartz revealed plans to provide cutting-edge digital asset custody services. HSBC’s role involves using technology for custody and offering compliance services, easing the regulatory path for institutions entering the crypto space.</p> 
<p>Read More: <a href="https://coinpedia.org/news/ripple-fights-back-against-sec-over-financial-disclosures-in-ongoing-xrp-lawsuit/">Lawsuit Heats Up as Ripple Defies SEC Data Demands; What Next?</a></p> 
<h2 class="wp-block-heading" id="h-the-10-trillion-crypto-custody-market">The $10 Trillion Crypto Custody Market</h2> 
<p>The conversation explored the trajectory of the custody market, projected to hit $10 trillion by 2030 due to the rising trend of tokenization. Schwartz predicted that discerning institutions seeking comprehensive crypto solutions would lean towards providers offering a mix of services, including custody, payments, and liquidity.</p> 
<p>The talk also delved into <a href="https://coinpedia.org/news/hsbc-to-offer-custody-services-for-digital-assets-through-partnership-with-metaco/">HSBC’s interest</a> in tokenized commodities like gold and securities. Schwartz acknowledged the ongoing alignment of Ripple’s and Metaco’s strategies for optimal synergy, emphasizing Ripple’s goal to be the “leading enterprise solution provider in the space.”</p> 
<blockquote class="wp-block-quote"> 
 <p><em>“I think we’re still figuring out how to adjust Ripple’s and Metaco’s strategies to take advantage of what the other can provide.”</em></p> <cite>David Schwartz</cite>
</blockquote> 
<p>Ripple’s strategic acquisitions and partnerships with Metaco and HSBC are helping the firm stand strong, as XRP ETFs or IPOs are not the company’s primary focus.&nbsp;</p> 
<p>Also Read: <a href="https://coinpedia.org/price-analysis/ripple-news-xrp-price-to-hit-new-ath-in-q2-heres-why/">Ripple News: XRP Price To Hit New ATH in Q2 – Here’s Why</a></p>

Ripple Enters $10 Trillion Crypto Custody Market with Metaco, HSBC Partnership

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