Ripple-Owned Metaco Wins Two Prestigious Honors at Leaders in Custody Awards 2023

Ripple-Owned Metaco Wins Two Prestigious Honors at Leaders in Custody Awards 2023

Time Stamp: August 8, 2023 6:52 AM
Source Node: 2810213

Metaco, a digital asset custody firm owned by Ripple, won two awards at the Global Custodian’s Leaders in Custody Awards 2023.

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Metaco, a company owned by Ripple and renowned for its unified platform that secures digital asset transactions, has secured a landmark recognition.

In a recent tweet, Metaco proudly announced its remarkable achievements at the Global Custodian’s Leaders in Custody Awards 2023. The company received two prestigious awards: 

“Best Innovation in Digital Asset Custody 2023” and “Digital Asset Initiative of the Year in Asia 2023.”

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Dig Perspectives, a prominent influencer in the XRP community, weighed in on the development. He remarked: 

“Award-winning Metaco. No wonder Ripple wanted to bring them into their business vertical.”

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Recall that Ripple acquired Metaco three months ago for $250 million, as The Crypto Basic reported. The move was part of the San Francisco-based company’s efforts into penetrating the custody and tokenization scene.

Metaco Custody Solution

In an interview with Global Custodian, Metaco attributed its success to sustained global growth and robust technological demand. According to the firm, its digital asset custody, Harmonize, has emerged as the gold standard for institutional digital asset services. 

It revealed that major global custodians and sub-custodian startups have adopted Harmonize. The firm added that Metaco’s technology underpins transformative offerings such as tokenization, crypto payment, settlement, and wallet services.

Reflecting on its achievements, Metaco highlighted that six of the top ten global custodians have strategically chosen its platform for crucial projects. It noted that the firms took the decisions after comprehensive checks, including a technical proof-of-concept review.

The firm includes financial giants like Citi, BNP Paribas, Societe Generale, DekaBank, DZ BANK, VP Bank, and Archax. 

Furthermore, Metaco mentioned that its collaboration with DBS Digital Exchange led to substantial growth in the Asia Pacific region. It particularly saw the doubling of institutional investors over the past year, with over a 100% increase in Bitcoin (BTC) custody. Similarly, its Ethereum holdings grew by 60%.

Metaco tripled its workforce over a year to meet the surging demand, bringing in top executives from Citi, Accenture, and IBM. 

Looking ahead, Metaco mentioned it will continue to operate independently under Ripple’s umbrella. It will leverage Ripple’s resources and network to accelerate its product roadmap and growth.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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