Ripple, the company behind XRP, one of the leading cryptocurrencies, has made an announcement stating that it will be acquiring Fortress Trust, a prominent financial institution in the cryptocurrency industry. Fortress Trust specializes in providing Web3 financial, technology, and regulatory infrastructure to blockchain-oriented companies. The specific details of the acquisition, including the amount of the deal, have not been disclosed.
CEO of Ripple, Brad Garlinghouse, expressed his excitement about the acquisition, mentioning that Ripple has been an early investor in Fortress Trust and has witnessed the impressive growth and success of the company since its launch in 2021. With a strong customer base consisting of both crypto-native and new-to-crypto customers, Fortress Trust’s technology and vision align well with Ripple’s goals of accelerating their business and further establishing their advantage in the critical areas of crypto infrastructure.
Overall, this acquisition signifies Ripple’s commitment to expanding its presence and influence in the cryptocurrency space, leveraging the expertise and capabilities of Fortress Trust to enhance their own operations.
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