Ripple Acquires Nevada-Based Fortress Trust

Ripple Acquires Nevada-Based Fortress Trust



Ripple, a company specializing in blockchain technology, has extended its regulatory footprint by purchasing Fortress Trust, a chartered trust firm based in Nevada that focuses on crypto and Web3 technologies. Although the financial specifics were not revealed, the deal was valued at less than the $250 million Ripple allocated for its May acquisition of Metaco, a custody company.



This acquisition is a calculated move for Ripple, bolstering its regulatory credentials. Through this purchase, the firm has obtained a Nevada-based regulatory license, adding to its existing New York BitLicense and money transmission licenses in 30 other U.S. states. Regulatory permissions are invaluable in the rapidly evolving crypto and blockchain sectors, which face increasing governmental oversight. Obtaining a license in Nevada could potentially


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#Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Nevada, #News, #Ripple, #Web3

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