Ripple Withdraws from Fortress Acquisition 20 Days After Announcement

Financial technology firm Ripple has decided to withdraw from its planned acquisition of Fortress Trust, just 20 days after the announcement aimed at expanding its licensing capabilities in the United States.

Ripple’s CEO, Brad Garlinghouse, shared the news on X (previously known as Twitter) on September 28, stating that the company has chosen not to proceed with the outright acquisition. However, Ripple will continue to hold a stake in Fortress Trust’s parent company, Fortress Blockchain Technologies.