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<p class="is-style-lead">Ripple plans to buy Standard Custody and Trust Company, a New York-based firm specializing in digital asset services, to boost its regulatory licenses.</p>
<p>The purchase will make <a href="https://crypto.news/tag/ripple/" data-type="link" data-id="https://crypto.news/tag/ripple/" rel="noopener noreferrer nofollow">Ripple</a> the sole owner of Standard Custody and enhance its regulatory licenses, including crucial trust charter and money transmitter licenses.</p>
<p>Standard Custody’s licenses are key to achieving this goal, enabling Ripple to provide a comprehensive service package. Standard Custody, known for its digital asset custody and settlement services, was among the first to secure a New York trust license in May 2021.</p>
<p>You might also like: <a href="https://crypto.news/ripple-xrp-price-prediction/" rel="noopener noreferrer nofollow"> Ripple price prediction for 2024: navigating the future of XRP </a></p>
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   <p lang="en" dir="ltr">With <a href="https://twitter.com/StandardCustody?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@StandardCustody</a>, we’ll be able to improve existing product offerings for our customers, as well as explore new products and use cases, all in a fully compliant way. <br><br>To date, <a href="https://twitter.com/Ripple?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@Ripple</a> has secured:&nbsp;✅&nbsp;nearly 40 U.S. money transmitter licenses,&nbsp;✅&nbsp;MPI license from MAS, and&nbsp;✅… <a href="https://t.co/0BrAWjBmhM" target="_blank" rel="noopener noreferrer nofollow">https://t.co/0BrAWjBmhM</a></p>— Brad Garlinghouse (@bgarlinghouse) <a href="https://twitter.com/bgarlinghouse/status/1757426246034591833?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">February 13, 2024</a>
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<p>“[Ripple] being able to provide not just the technology component to financial institutions who want to use blockchain for all types of decentralized financial services, you also need a compliance piece,” Ripple President Monica Long said in a <a href="https://www.businesswire.com/news/home/20240213022752/en/Ripple-Announces-Acquisition-of-Standard-Custody-Trust-Company-Expands-Its-Portfolio-of-Regulatory-Licenses/?feedref=JjAwJuNHiystnCoBq_hl-W8j9Oi60kFTomUxRDB8jhBsNpnJw7dvSfTyni2BOVIOrCOi9QzgjCezTS3Nw_X6kJUrpSBm-Hav1w-UkdSlG3nDlC87j5HoE75BMeA8LaVacVjEfZIyqgxRRsuxHCTK2w%3D%3D&amp;utm_source=dlvr.it&amp;utm_medium=twitter" data-type="link" data-id="https://www.businesswire.com/news/home/20240213022752/en/Ripple-Announces-Acquisition-of-Standard-Custody-Trust-Company-Expands-Its-Portfolio-of-Regulatory-Licenses/?feedref=JjAwJuNHiystnCoBq_hl-W8j9Oi60kFTomUxRDB8jhBsNpnJw7dvSfTyni2BOVIOrCOi9QzgjCezTS3Nw_X6kJUrpSBm-Hav1w-UkdSlG3nDlC87j5HoE75BMeA8LaVacVjEfZIyqgxRRsuxHCTK2w%3D%3D&amp;utm_source=dlvr.it&amp;utm_medium=twitter" target="_blank" rel="noopener noreferrer nofollow">statement</a>. “And so these licenses are really key to us being able to deliver that full end-to-end solution.”</p>
<p>Ripple already <a href="https://crypto.news/ripple-payments-expands-its-business-to-70-markets/" data-type="link" data-id="https://crypto.news/ripple-payments-expands-its-business-to-70-markets/" rel="noopener noreferrer nofollow">collaborates</a> with major banks worldwide and aims to strengthen its regulatory standing by acquiring more licenses in the US, Singapore, the UK, and Europe.</p>
<p>Read more: <a href="https://crypto.news/ripple-outlines-how-regulatory-clarity-fosters-innovation/" rel="noopener noreferrer nofollow"> Ripple outlines how regulatory clarity fosters innovation </a></p>

Ripple acquires Standard Custody & Trust Co. to broaden US crypto services

crypto.news

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