Enterprise blockchain solutions provider Ripple has confirmed that it is in the process of an acquisition of Fortress Trust, a financial institution specializing in Web3 financial, regulatory, and technological infrastructure for blockchain enterprises.

Ripple's acquisition of Fortress Trust follows its recent purchase of crypto custody provider Metaco for $250 million. The latter transaction is noted as one of the most significant deals in the cryptocurrency sector for 2023. Through its technical capabilities and regulatory licensing, Fortress Trust offers infrastructure that aims to cater to the burgeoning enterprise crypto market.

Brad Garlinghouse, CEO of Ripple, commented on the acquisition,

“As an early investor in Fortress Trust, we’ve had a chance to get to know the team, …