<\/p>\n
Two top executives of Swiss-based cryptocurrency custody provider Metaco have reportedly departed the firm less than a year after landing an acquisition deal with blockchain solutions company Ripple.<\/p>\n
According to a CoinDesk report<\/a> citing a Ripple spokesperson, Adrien Treccani, Metaco\u2019s founder and CEO, and CPO Peter DeMeo have left the firm. Metaco is yet to announce the employees who will fill in those roles.<\/p>\n Metaco has not revealed the reason for the departure of its CEO and CPO, but speculators believe the Ripple deal may have raised the need for a leadership transition.<\/p>\n Ripple acquired the custody firm in May 2023 for $250 million, a deal marking the blockchain company\u2019s expansion into the growing institutional crypto custody market. Ripple looked forward to ramping up its enterprise offerings while providing the technology for users to custody, issue, and settle any tokenized assets. Metaco leveraged Ripple\u2019s large customer base and capital to address new client demand.<\/p>\n CryptoPotato<\/em> reported<\/a> that Metaco would continue operating independently, with Treccani leading its operations.<\/p>\n \u201cWe appreciate the strong and industry-leading custody business that Adrien and his team built, as well as his leadership in integrating the custody team and solution with Ripple following the acquisition last year. Custody remains integral to Ripple\u2019s growing business as we continue to provide best-in-class enterprise crypto solutions for our customers around the world,\u201d commented the Ripple spokesperson.<\/p>\n<\/blockquote>\n Metaco\u2019s leadership transition comes three months after the firm partnered with HSBC, one of the largest British banks, to introduce a new digital assets custody service for institutional clients invested in tokenized securities. The service, scheduled for launch this year, is expected to complement HSBC\u2019s platform for issuing digital assets.<\/p>\n Over time, Metaco has evolved into a platform, landing partnership deals with major banks. However, reports about these banks reviewing their alliances with the crypto custody firm are emerging.<\/p>\n In June, unidentified sources revealed<\/a> that multinational investment giant Citigroup was reevaluating its partnership with Metaco and that both firms had started informal talks with other providers. Speculations arose about the reviews resulting from Ripple\u2019s legal battle with the U.S. Securities and Exchange Commission, but Treccani said such talks were a bit crazy.<\/p>\n <\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Two top executives of Swiss-based cryptocurrency custody provider Metaco have reportedly departed the firm less than a year after landing an acquisition deal with blockchain solutions company Ripple. According to a CoinDesk report citing a Ripple spokesperson, Adrien Treccani, Metaco\u2019s founder and CEO, and CPO Peter DeMeo have left the firm. Metaco is yet to […]<\/p>\n","protected":false},"author":2,"featured_media":246300,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-246299","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/246299","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=246299"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/246299\/revisions"}],"predecessor-version":[{"id":246302,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/246299\/revisions\/246302"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/246300"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=246299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=246299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=246299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Metaco CEO and CPO Leave Firm<\/h2>\n
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Metaco\u2019s Partners Reevaluate Pacts<\/h2>\n
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