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Finally we get to report some crypto startup news that doesn鈥檛 have anything to do with 鈥� at least not directly.

In its first acquisition, San Francisco-based has acquired Switzerland-based for $250 million 鈥� half in cash and half in equity,

So what does each of these companies do and why does this acquisition make sense? Let鈥檚 take this nice and slow.

Privately owned Ripple is the world’s sixth-largest cryptocurrency exchange.聽

makes technology allowing financial institutions to store and manage digital assets. This is a big deal, especially after several major firms (FTX) collapsed, leaving investors facing big losses.

Why Metaco matters

The fact that Metaco is based outside the United States where crypto regulation is much clearer is a bonus for Ripple as the

The Swiss company is also a legit player in its own right with clients including , 听补苍诲 ‘s digital asset arm.

has raised a total of million in funding over four rounds. Its latest funding was raised on , from a round. is funded by investors. and are the most recent backers, according to

Investor enthusiasm in crypto waned after a drop in cryptocurrency prices in 2022. A slew of major crypto firm failures didn鈥檛 help. Yes, we are talking (again) about FTX.

In a on its website, Ripple CEO said, 鈥�Through the strength of our balance sheet and financial position, Ripple will continue pressing our advantage in the areas critical to crypto infrastructure. Bringing on Metaco is monumental for our growing product suite and expanding global footprint.鈥�

is no slouch either.

It聽 has raised a total of million in funding over rounds. Its latest funding was raised on , from a聽 round. is funded by investors. and are the most recent investors, according to

While crypto prices are on the rise, the dramatic collapse of FTX still hangs over the entire sector with several other lenders and exchanges.

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• SVB, Signature Shutdowns Not Chilling Crypto

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