Ripple Acquires Fortress Trust for Expansion of Cryptocurrency Offerings!

Author: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Sep 8, 2023 21:02

Cryptocurrency firm Ripple has acquired chartered trust company Fortress Trust, which specializes in virtual currencies. The purchase price has not been disclosed, although it is reported to be less than the $250 million Ripple paid for custody company Metaco earlier this year. The acquisition has given Ripple a trust license in the state of Nevada, adding to the money transfer licenses it holds in 30 US states, including the New York BitLicense.