Cryptocurrency company Ripple on Friday it will acquire Fortress Trust, a startup specializing in crypto infrastructure.
XRP didn't move substantially on the news. The token was up about 0.4% in the past 24 hours, trading at a price of 50 cents.in recent years, with the U.S. Securities and Exchange Commission targeting the firm with a lawsuit alleging XRP should be considered a security and that its executives sold over $1 billion worth of the token to investors in an illegal securities offering.
Ripple has seen momentum in its business build recently — particularly outside the U.S., where most of its clients are based. Asked whether the ruling meant that American banks would return to Ripple to use its ODL product, Stu Alderoty, Ripple's chief legal officer,Fortress is Ripple's second acquisition this year. In May, the companyA Ripple spokesperson declined to comment on the size of the deal but said that it is less than the sum Ripple paid to buy Metaco.
Ripple also obtained a Nevada trust with its acquisition of Fortress Trust, adding to its growing list of regulatory permits globally. A company spokesperson said this would enable the firm to"provide regulated services — for both fiat and crypto — to certain customers in the U.S." "Longer term, we anticipate there will be ways we can leverage the technology to support new initiatives on our roadmap and enable Ripple to serve a broader segment of customers and use cases," a Ripple spokesperson told CNBC via email.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Goosebumps (2023) (2023) | ScreenRantR. L. Stine's horror book series receives its second television adaptation with the 2023 Disney+ series Goosebumps. The new series brings in the creative minds behind the first two Goosebumps films and centers on five teenagers who haphazardly unleash evil supernatural forces on their town. As they attempt to send them back to where they came from, they learn that their parents harbor similar secrets from their younger days.
Leer más »
Great Milestone for Ripple (XRP) in 2023: On-Chain Transaction Vol SoarsRipple's XRP continues expanding in terms of overall transaction volume on-chain.
Leer más »
Ripple acquires Fortress Trust, which will use Ripple payments tech for FortressPayCrypto payments firm Ripple continues its acquisitive streak with a deal to purchase Fortress Trust, a blockchain infrastructure firm.
Leer más »
FirstEnergy wants to raise Ohioans’ electric bills: The Wake Up for Friday, Sept. 8, 2023FirstEnergy’s current electric security plan expires in May. And their new eight-year plan, among other things, is asking for the ability to pass on more costs to consumers.
Leer más »