Traditional finance heavyweights join forces with ripple to advance blockchain integration for institutional payment solutions in the US.
Ripple, a US-based blockchain firm expanding its institutional custody and wallet services through strategic acquisitions, secured a $500 million investment at a $40 billion, backed by top-tier institutional investors including funds affiliated with Fortress Investment Group, Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace.
Fortress, a crypto custody provider previously involved in blockchain infrastructure deals, partnered with Citadel Securities, a major market maker, to lead the funding round for the blockchain payments company.
The investment comes as Ripple has formed alliances with traditional finance players to bridge legacy systems with blockchain technology, enhancing cross-border payment solutions. Recent acquisitions by Ripple signal growing institutional interest in secure crypto storage and brokerage services within the US market.
