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

2023-09-08 15:26:14

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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