{"id":85142,"date":"2023-09-29T09:36:20","date_gmt":"2023-09-29T06:36:20","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=85142"},"modified":"2025-09-12T21:32:22","modified_gmt":"2025-09-12T18:32:22","slug":"ripple-pulls-out-of-fortress-trust-acquisition","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ripple-pulls-out-of-fortress-trust-acquisition\/","title":{"rendered":"Ripple pulls out of Fortress Trust acquisition"},"content":{"rendered":"<p>Ripple has abandoned its plan to acquire Fortress Trust, a crypto-focused trust firm, according to Brad Garlinghouse, the fintech company&#8217;s chief executive.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">A few weeks ago, we signed a letter of intent to acquire Fortress Trust \u2013 we\u2019ve since made the decision not to move forward with an outright acquisition, though Ripple will remain an investor in <a href=\"https:\/\/twitter.com\/Fortress_io?ref_src=twsrc%5Etfw\">@Fortress_io<\/a>.<\/p>\n<p>\u2014 Brad Garlinghouse (@bgarlinghouse) <a href=\"https:\/\/twitter.com\/bgarlinghouse\/status\/1707455045942292954?ref_src=twsrc%5Etfw\">September 28, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cA few weeks ago we signed a letter of intent to acquire Fortress Trust \u2014 since then we have decided not to take any steps toward an outright purchase,\u201d Garlinghouse said.<\/p>\n<\/blockquote>\n<p>According to him, Ripple will remain an investor and will continue to support the firm.<\/p>\n<p>Fortress chief executive Scott Purcell, in comments to Decrypt, noted that the California-based firm \u201cis focused only on pure B2B and institutional global business.\u201d<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe were a vehicle for them to diversify into <span data-descr=\"business-to-business-to-consumer, a sales model that envisages close cooperation between the core business and its ancillary companies\" class=\"old_tooltip\">B2B2C<\/span>,\u201d he added.<\/p>\n<\/blockquote>\n<p>Purcell noted that Fortress was aware of Ripple&#8217;s change of decision. According to him, the firms maintain \u201cstrong relationships with joint plans for the future\u201d that do not envisage a merger.<\/p>\n<p>Earlier in September, <a href=\"https:\/\/u1f987.com\/en\/news\/ripple-to-acquire-fortress-trust\">Ripple announced<\/a> a potential deal.<\/p>\n<p>Earlier the fintech company <a href=\"https:\/\/u1f987.com\/en\/news\/ripple-agrees-to-acquire-crypto-custodian-metaco-for-250-million\">acquired<\/a> the Switzerland-based crypto custodian Metaco.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ripple has abandoned its plan to acquire Fortress Trust, a crypto-focused trust firm.<\/p>\n","protected":false},"author":1,"featured_media":85143,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1235,112],"class_list":["post-85142","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-mergers-and-acquisitions","tag-ripple"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/85142","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=85142"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/85142\/revisions"}],"predecessor-version":[{"id":85144,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/85142\/revisions\/85144"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/85143"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=85142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=85142"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=85142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}