Ripple buys Fortress Trust to expand its portfolio of blockchain solutions

Ripple has announced that they have acquired Fortress Trust. This will expand Ripple’s portfolio of blockchain solutions. It is very interesting to see Ripple spending $150 million on SEC case and still buying companies. This shows how strong they really are financially.

This is a great move of Ripple to buy this company, offering custody and a wallet-inclusion-solution for app programmers, suitable for more than 200 tokens/chains.

Brad Garlinghouse says he has known Fortress Trust team for years and is well aware of things they have achieved over the years. He is excited to see how Ripple will expand in realm of cryptocurrency infrastructure services with the new team.

This acquisition by Ripple will allow Ripple and its other subsidiaries to hold more than thirty money transmitter licenses across the US. This also includes Monetary Authority of Singapore, which is major payment institution in Singapore.

This shows that blockchain DLT technology is future of finance. In other XRP news, SEC has filed its Reply Memorandum in Further Support of its Motion to Certify Interlocutory Appeal. In the document, SEC is claiming to be the victim.