News that Metaco, the Swiss digital assets custody firm acquired by Ripple earlier this year, is working with HSBC, one of the world’s largest banks, quickly became a reason to be cheerful for many supporters of the U.S. fintech’s ledger protocol, known collectively as the “XRP army.” Named after the cryptocurrency designed to move liquidity around the XRP Ledger used by Ripple, these avid fans interpret HSBC’s choice of custody tech partner as yet another sign that financial institutions will inevitably adopt XRPL and, crucially, the XRP token. The crypto space is ferociously tribal. Token holders want to believe their blockchain of choice will rise to prominence and deliver a windfall – sometimes to a point that defies logic. For instance, the assumption that Ripple’s recent acquisition spurred HSBC’s decision ignores the fact that Metaco had been courting the bank for over 18 months, according to Adrien Treccani, the Swiss custody firm’s CEO.

• SEO Powered Content & PR Distribution. Get Amplified Today.
• PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
• PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
• PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
• PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
• Source: https://www.coindesk.com/markets/2023/11/27/first-mover-americas-gbtc-discount-to-nav-shrinks-to-narrowest-since-july-2021/?utm_medium=referral&utm_source=rss&utm_campaign=headlines