Citigroup Reassesses Digital Asset Custody Partnership Amid Ripple’s Acquisition Of Metaco

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Citigroup Inc. (NYSE: C) is reportedly reassessing its digital asset custody partnership with Metaco, a Swiss fintech firm, and has initiated informal discussions with alternative providers. Citigroup made its partnership with Metaco public last year. Recently, Metaco was purchased by Ripple Labs Inc. (CRYPTO: XRP) for $250 million. Ripple Labs is currently embroiled in an ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). The digital assets space has seen an influx of conventional financial institutions, which has opened doors for emerging startups, especially in the…

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