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Ripple Announce Acquisition of Crypto Custodian Fortress Trust

Blockchain company Ripple revealed its plans to acquire Nevada-based financial and technology infrastructure provider Fortress Trust on Friday to strengthen its Web3 infrastructure and expand its product offerings. Fortress Trust has established a strong customer base that includes both crypto-native and traditional finance clients. Ripple CEO Brad Garlinghouse expressed excitement about the acquisition. The transaction follows Ripple's initial investment in Fortress at the company's seed round in August 2022. Ripple's purchase of Fortress involves the addition of the Nevada Trust license to its portfolio of regulatory licenses.

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