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Ripple Labs Strengthens Blockchain Infrastructure with Acquisition of Fortress Trust

Acquisition, Blockchain, Fortress, Infrastructure, Labs, Ripple, Strengthens, Trust

Crypto-based payments platform Ripple Labs acquires blockchain infrastructure firm Fortress Trust

Crypto-based payments platform Ripple Labs has announced its acquisition of blockchain infrastructure firm Fortress Trust. This is the second major purchase for Ripple this year.

Ripple’s addition of Fortress Trust

Ripple has added Web3 firm Fortress Trust to handle its infrastructure and regulatory compliance needs. By leveraging Fortress Trust’s technology and licensing, financial institutions and enterprises can focus on building their blockchain strategy without worrying about compliance requirements.

Ripple’s investment in Fortress brand

Ripple plans to invest in Fortress Blockchain Technologies, the parent company of Fortress Trust, as a means of bolstering its payments network. This investment will enable FortressPay services to deliver new and innovative payment solutions to business-to-business customers globally.

Ripple CEO’s statement

Ripple CEO Brad Garlinghouse expressed excitement about bringing on the Fortress Trust team and its technology. He highlighted Fortress Trust’s impressive business growth and strong customer base in the crypto market.

Previous acquisition by Ripple

Earlier this year, Ripple acquired institutional digital asset custody firm Metaco. This acquisition was in response to research suggesting that financial institutions are planning to heavily incorporate cryptocurrencies into their business models in the next three years. Metaco’s services, including asset tokenization, fulfill the needs of Ripple’s blue-chip clientele.

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