Swiss cryptocurrency custody firm Metaco’s CEO Adrien Treccani and chief product officer Peter DeMeo have left the company, according to a CoinDesk report.
In the meantime, no acting CEO has been named. During press time a Metaco spokesperson was unavailable to comment further on the report.
Ripple acquired the Switzerland-based blockchain firm Metaco for $250 million back in May 2023 marking its first entry into the asset tokenization field. Metaco’s top competitors include Tangem, Taurus, and GK8.
The acquisition was announced by Ripple at the time which made its plans clear with the firm stating it expects the deal to help it expand its enterprise offerings, particularly in international markets.
Back then Ripple said that it expected Metaco to dramatically accelerate its growth by gaining access to Ripple’s customer base, capital and resources that will enable it to “continue delivering on its commitment to banking and institutional clients.”
A Ripple spokesperson confirmed the departures to CoinDesk.
”We appreciate the strong and industry-leading custody business that Adrien and his team built, as well as his leadership in integrating the custody team and solution with Ripple following the acquisition last year. Custody remains integral to Ripple’s growing business as we continue to provide best-in-class enterprise crypto solutions for our customers around the world,” a Ripple spokesperson told the publication.
Read more on cryptonews.com
In December, Standard Chartered Bank-backed digital assets custodian Zodia Custody, has integrated Metaco network’s global crypto storage services. The strategic partnership is aimed at offering global sub-custody services for cryptocurrencies. This means that Metaco would store client’s funds and provide means to