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Ripple (XRP) Will Acquire Crypto-Focused Financial Institution Fortress

Following the acquisition of Metaco, Ripple is now buying yet another crypto-focused company.
George Georgiev

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Ripple – the company behind one of the leading cryptocurrencies, XRP – has announced that it will acquire Fortress Trust.

  • According to a recent announcement, Ripple has agreed to acquire Fortress Trust.
  • Fortress Trust is a well-known financial institution that’s focused on cryptocurrencies.
  • Mainly, it provides Web3 financial, technology, and regulatory infrastructure to blockchain-oriented companies.
  • The sum of the acquisition remains undisclosed.
  • Speaking on the matter was CEO of Ripple, Brad Garlinghouse, who said:

As an early investor in Fortress Trust, we’ve had a chance to get to know the team, its vision and technology. Since their launch in 2021, they’ve built an impressive business with recurring revenue and a strong roster of both crypto-native and new-to-crypto customers. […] We’re excited to bring on this team and its technology to accelerate our business and continue pressing our advantage in the areas critical to crypto infrastructure.

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About the author

George Georgiev
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Georgi Georgiev is CryptoPotato's editor-in-chief and a seasoned writer with over 8 years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping.