1 year ago
Banking elephantine Citigroup (C) is reviewing its concern with Metaco a period aft Ripple Labs announced that it has agreed to get the crypto custody steadfast for $250 million, according to a Bloomberg report, citing radical acquainted with the matter.
Citigroup has present started talks with respective different custody providers, the study added.
Ripple announced the acquisition of Metaco successful May. The woody announcement came connected the backmost of Ripple's ongoing ineligible tussle with the U.S. Securities and Exchange Commission (SEC), which is estimated to outgo the blockchain steadfast astir $200 million.
Citigroup initially selected Metaco arsenic its custody spouse successful June past twelvemonth arsenic it looked to grow into tokenized securities and different blockchain-related products.
Neither Citigroup oregon Metaco instantly responded to CoinDesk's petition for comment.
Edited by Parikshit Mishra.
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