Ripple continues its strategic expansion with the acquisition of blockchain infrastructure firm Fortress Trust. This move aims to bolster Ripple's regulatory licensing portfolio and solidify its presence in the cryptocurrency landscape.
Having initially entered Fortress as a minority investor in 2022, Ripple's commitment to this partnership is evident. The recent undisclosed agreement signifies Ripple's dedication to invest further in Fortress and its services, including FortressPay, which will harness Ripple's cutting-edge payment technology.
Fortress Trust, a subsidiary of Fortress Blockchain Technologies holding a Nevada Trust License, provides crucial infrastructure services to institutional crypto clients, offering technology solutions and licensing.
This acquisition follows a series of Ripple's significant moves, including a $250 million investment in Swiss custodian Metaco and a strategic stake in the crypto exchange Bitstamp earlier this year.
However, it's important to note that this deal is subject to due diligence and regulatory approvals, emphasizing Ripple's commitment to operating within the boundaries of the law.
