2024

Standard

<p><strong>Despite the legal challenges it’s facing, the crypto firm Ripple aims to expand its operational realm. In the latest news, the company is looking to enter the segment of crypto custody. However, the company still needs to obtain the green light from regulatory authorities.</strong></p> 
<h2 id="h-the-crypto-firm-ripple-in-strategic-diversification-mode">The crypto firm Ripple in strategic diversification mode?</h2> 
<p><a href="https://www.cointribune.com/ripple-libere-ses-reserves-quel-impact-sur-le-xrp-et-le-marche-crypto/" target="_blank" rel="noreferrer noopener">Ripple, the company behind XRP,</a> currently the 6<sup>th</sup> most dynamic crypto in the market, appears to be taking strategic steps to diversify its offerings and to improve its regulatory status.</p>
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<p>This is at least what is suggested by the recent announcement from Ripple’s CEO, Brad Garlinghouse, regarding <a href="https://crypto.news/ripple-acquires-standard-custody-trust-co-to-broaden-us-crypto-services/" target="_blank" rel="noreferrer noopener">the company’s expansion project into the realm of crypto custody.</a> This represents a significant shift in focus from traditional payment services.</p> 
<p>Ripple’s decision to venture into crypto custody comes in a context of regulatory challenges, specifically its ongoing legal battle with the Securities and Exchange Commission (SEC).</p> 
<p>It seems that this case does not discourage the crypto company’s executives. They are actively seeking to get regulatory approval to acquire Standard Custody and Trust Company, a firm with expertise in digital asset services.</p> 
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     <p lang="en" dir="ltr">Ripple acquires Standard Custody &amp; Trust Co. to broaden US crypto services <a href="https://t.co/lCynEbl6JE">https://t.co/lCynEbl6JE</a> <a href="https://t.co/7Dh6IIGcra">pic.twitter.com/7Dh6IIGcra</a></p>— Crypto GPT Club (@cryptogptclub) <a href="https://twitter.com/cryptogptclub/status/1757614397642486116?ref_src=twsrc%5Etfw">February 14, 2024</a>
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  <em>To diversify its crypto services in the US, Ripple considers acquiring Standard Custody and Trust Company</em>
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<h2 id="h-a-policy-favorable-to-its-compliance">A policy favorable to its compliance?</h2> 
<p>By acquiring Standard Custody, the crypto company Ripple is actually aiming for a specific goal: to strengthen its regulatory licenses, including a highly-coveted New York State trust charter.</p> 
<p>These licenses are critical for Ripple to offer a full range of crypto services to users, including the custody and settlement of digital assets. This would enable Ripple to provide financial institutions with end-to-end solutions throughout the crypto industry’s value chain, combining technology and compliance.</p> 
<p>Monica Long, the General Manager of the crypto firm Ripple, has emphasized the significance of licenses in providing full-fledged blockchain solutions to financial institutions. According to her, Standard Custody’s established market position, with its pioneering New York trust charter obtained in May 2021, would bolster Ripple’s regulatory framework.</p> 
<p>Therefore, the project to acquire this firm is part of Ripple’s broader strategy to establish its presence globally, which in the long term would enable the crypto company to overcome <a href="https://www.cointribune.com/defi-et-fiscalite-comprendre-les-enjeux/" target="_blank" rel="noreferrer noopener">regulatory complexities</a>. The big question now is whether Ripple will obtain the permissions it needs to achieve its goals.</p>

Ripple disrupts the crypto market with a new project

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Ďalšie články zverejnené 14. 2. 2024

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