Ripple has recently acquired Fortress Trust, a Nevada-based chartered trust company, for an undisclosed sum. This acquisition will add a Nevada license to Ripple’s current holdings, such as the New York BitLicense and money transfer licenses across 30 U.S. states. The purchase will enable Ripple to leverage on Fortress Trust’s technology, licensing, and infrastructure, allowing them to better serve the growing crypto market.Ripple CEO Brad Garlinghouse noted that Fortress Trust had built an impressive business with recurring revenue and a strong roster of crypto-native and new-to-crypto customers since its launch in 2021. Ripple President Monica Long stated that the acquisition would help them “to build and deliver best-in-class customer experiences for enterprises using its crypto infrastructure across our payments and liquidity solutions.”Fortress Blockchain CEO Scott Purcell said the purchase was a testament to the team and business they built within a short period.

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Information	Details
Geography	North America
Countries
Sentiment	positive
Relevance Score	10
People	Brad Garlinghouse, Monica Long, Scott Purcell
Companies	Ripple, Metaco, Fortress Blockchain, Fortress Trust, U.S. Securities and Exchange Commission
Currencies	None
Securities	None