Ripple Acquires Fortress Trust, Expanding License Portfolio in the US

Financial technology firm is expanding its portfolio of regulatory licenses in the United States with the acquisition of Fortress Trust, as announced on September 8.

Fortress Trust offers both regulatory and technological infrastructure for blockchain organizations. The company possesses a Nevada Trust license, which enables it to custody financial assets. This acquisition adds to the more than 30 licenses already held by Ripple nationwide as a money transmitter, along with a BitLicense in New York that is essential for digital currency businesses operating within the state.