Chief executive Adrien Treccani and Chief Product Officer Peter DeMeo have left their employer Metaco – a leading player in custody solutions for cryptocurrency, acquired by exchange network operator Ripple in 2023 – news site Coindesk observes.
Ripple is expressing praise for Metaco’s ex-leaders. Yet, Coindesk indicates in its news post that luck largely turned on Metaco’s previous success with large banks when the custody firm was acquired by the network.
“Before being acquired by Ripple, Metaco had become a favorite partner for European banks looking for assistance with the custody of digital assets. Most recently, Metaco signed up HSBC, although there had been reports that banks were re-evaluating their relationship with Metaco in the wake of the acquisition.”
Among our own previous news posts mentioning Metaco, the latest one, from July, described a deteriorating relationship with Citi.