Ripple continues to defy the odds and stay ahead of the curve, even in the face of legal pressure from the U.S. Securities and Exchange Commission (SEC).
According to a tweet by John E Deaton, the CEO of Crypto-Law.us, Ripple is still actively hiring and buying despite facing an SEC lawsuit.
Hiring/Buying while sued by SEC:@Ripple
I see why Ripple’s not 🥰 https://t.co/QcqhbWSjkk
— John E Deaton (@JohnEDeaton1) May 17, 2023
On May 17, Ripple acquired Metaco, a Swiss-based digital asset custody provider, to help expand its crypto-native infrastructure services into global institutional custody markets. This acquisition further demonstrates the strength of the company’s commitment to building out its services and staying competitive amid legal pressure from the SEC.
Metaco is the latest addition to Ripple’s expanding suite of infrastructure services, which includes its payment network solutions, XRP Ledger, and On-Demand Liquidity. The acquisition will allow the blockchain firm to access hundreds of Metaco’s existing clients and new capital flows to meet the rising demands for its services.
Ripple Making Significant Strides
Ripple is still in a tense legal battle with the regulatory watchdog, but that has not stopped it from continuing to make significant strides in expanding its business.
Despite the crypto winter, the firm is actively recruiting product managers for its Product & Delivery and RippleX departments and looking for other vacancies, making it one of the few crypto entities focused on team expansion.
Brad Garlinghouse, Ripple CEO, holds that the company will be able to secure a favorable resolution in its legal spat with the SEC within this year.