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.
