CEO Of Ripple-Owned Company STEPS DOWN

February 12, 2024 7:49 pm Comments

The CEO of Metaco, a Ripple Labs entity, has stepped down from his role as Chairman of the company,

Ripple acquired Metaco in 2023, in the hopes of entering the lucrative custody market. Metaco is a custody specialist that will bring real-world assets on-chain.

No specific reason was given for the departure of Metaco’s CEO Adrien Treccani. Additionally, the company’s Chief Product Officer also departed from the company.

The timing is odd, to say the least, and even more odd seeing as how Treccani wasn’t just CEO, he was a founder of Metaco—it was his baby.

Perhaps the acquisition by Ripple requires new hands to crew the company, but again, no specific reasons were given for the departure of these two executives. Here’s what we currently know:

Coin Telegraph provided this statement from a Ripple spokesperson:

“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.”

Andrew De’Vilbiss remarked: “People come and go all the time. Why METACO CEO left? I thought it was his vision. That’s how it is in the land of business.”

Crypto Potato explained:

Metaco’s leadership transition comes three months after the firm partnered with HSBC, one of the largest British banks, to introduce a new digital assets custody service for institutional clients invested in tokenized securities.

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