Fortress Trust Now Under Ripple’s Wing in Crypto Expansion Strategy

Ripple Labs is making strides in the crypto world with its latest acquisition: blockchain infrastructure specialist Fortress Trust. This is already Ripple’s second significant buyout in the current year.

In their recent blog update, Ripple shared news about bringing onboard the Web3-focused Fortress Trust. Their primary goal is to enhance their infrastructure and ensure stringent regulatory compliance.

“Fortress Trust, with its advanced technology and licensing, offers vital infrastructure. This infrastructure is crucial to cater to the expanding enterprise crypto segment, aligning seamlessly with Ripple’s objectives and product evolution. With Fortress as a trusted, regulated ally, enterprises and financial institutions can channel their efforts into shaping their blockchain game plan, sidelining compliance-related concerns.”

The firm’s commitment to Fortress doesn’t stop at the acquisition. They also intend to funnel investments into Fortress’s parent entity, amplifying their payment network’s capabilities.

“After sealing the Fortress Trust agreement, our next step involves channeling investments into Fortress Blockchain Technologies. We aim to tap into its FortressPay services, merging it with Ripple’s international tech prowess. This integration promises groundbreaking payment solutions for global B2B clientele.”

Ripple’s CEO, Brad Garlinghouse, expressed his enthusiasm about the partnership in the blog:

“Having been early backers of Fortress Blockchain, we’ve grown familiar with their dynamic team, their forward-looking vision, and their cutting-edge tech. Since their 2021 debut, their journey has been commendable, boasting consistent revenue and attracting a mix of seasoned crypto enthusiasts and crypto newcomers. This acquisition promises to amplify our growth and strengthen our stronghold in pivotal crypto infrastructure domains.”

Ripple’s proactive approach towards crypto adoption was evident when they invested a whopping $250 million to purchase Metaco, a firm specializing in digital asset custody for institutions. This decision was driven by data indicating a probable surge in financial entities adopting cryptocurrencies in the forthcoming years.