Ripple Labs closes Standard Custody acquisition deal

Jack McDonald will remain CEO of Standard Custody while also serving in his new role as senior vice president of stablecoins at Ripple.

Ripple Labs closed its acquisition of Standard Custody, a digital asset custodian, the company announced on June 11. The deal, first announced earlier this year, is central to Ripple’s planned rollout of a U.S. dollar stablecoin and broader goals of real-world asset tokenization.

As part of the deal, Standard Custody CEO Jack McDonald will be appointed as Ripple’s senior vice president of stablecoins, while remaining as the CEO of Standard Custody.

Ripple highlighted Standard Custody’s licensing as a core feature of the digital asset custodian, pointing to Standard Custody’s regulatory approval from the New York Department of Financial Services (NYDFS)—one of the strictest financial regulators when it comes to digital assets.

Jack McDonald will remain CEO of Standard Custody while also serving in his new role as senior vice president of stablecoins at Ripple.
Ripple Labs closed its acquisition of Standard Custody, a digital asset custodian, the company announced on June 11. The deal, first announced earlier this year, is central to Ripple’s planned rollout of a U.S. dollar stablecoin and broader goals of real-world asset tokenization.As part of the deal, Standard Custody CEO Jack McDonald will be appointed as Ripple’s senior vice president of stablecoins, while remaining as the CEO of Standard Custody.Ripple highlighted Standard Custody’s licensing as a core feature of the digital asset custodian, pointing to Standard Custody’s regulatory approval from the New York Department of Financial Services (NYDFS)—one of the strictest financial regulators when it comes to digital assets. Read more