Ripple, the blockchain giant that acquired Metaco for $250 million in May, has made a noteworthy announcement. Adrien Treccani, the CEO of Metaco, is now assuming the role of Senior Vice President (SVP) of Product at Ripple.
This disclosure came to light as Ripple unveiled its predictions for the cryptocurrency industry in 2024 through a recent post. The perceptive observation was initially noted by WrathofKahneman, a dedicated XRP enthusiast and user.
The acquisition earlier in May had seen XRP become the exclusive shareholder of Metaco, with both entities committing to maintaining independent operations. An official announcement emphasized that Metaco would persist as an autonomous brand and business unit under the continued leadership of its Founder and CEO, Adrien Treccani.
Ripple’s Potential Operational Shift And Collaborative Prospects With Metaco
While the recent development hints at a potential shift in operational strategies for Ripple and Metaco, no official confirmation has been provided. Nevertheless, the close integration of personnel between the two companies could lay the groundwork for future collaborations. Speculation abounds about the impact on XRP and its native digital asset XRP, particularly regarding the institutional adoption of Metaco’s crypto custody and blockchain solutions.
Industry observers suggest that such adoption could offer XRP a pathway to onboard major players and expand its payment network. Furthermore, there is speculation that crypto custody services might evolve into a significant revenue stream for XRP, potentially diverting attention from its core payment network utilizing XRP.
Although no concrete evidence supports these speculations, some XRP proponents express concerns about the potential consequences for XRP holders. The question of whether XRP will provide additional details on its operational policies, not only concerning Metaco but also future acquisitions, remains unanswered. In the interim, both Metaco and Ripple continue to align with Ripple’s overarching interests, contributing to the growth of the project’s ecosystem.