CEO of Ripple-Owned Metaco Named as Ripple SVP of Product
In a notable turn of events, Metaco CEO Adrien Treccani has now been named SVP at the parent company, Ripple.
In May, blockchain company Ripple acquired Metaco for $250 million. At the time, Metaco revealed that although Ripple had become the startup’s sole shareholder, both companies would operate independently.
An official announcement confirming the acquisition read, “[Metaco] will continue to operate as an independent brand and business unit led by Founder and CEO Adrien Treccani.”
Now, seven months later, it appears there has been a change in operational policy.
First spotted by eagle-eyed XRP enthusiast and X user WrathofKahneman, Adrien Trecanni has now been named Senior Vice President (SVP) of Product at Ripple. The disclosure was seen in a new post in which Ripple shared its 2024 predictions for the cryptocurrency industry.
#2024predictions from @AdrienTreccani, SVP Product at @Ripple https://t.co/ugKKtvl77b
— Metaco (@metaco_sa) December 18, 2023
Has Ripple Become Intertwined with Metaco?
While nothing is confirmed at this point, the latest discovery suggests a slight change in operational policy at Ripple and Metaco. However, such an outcome would not be entirely surprising, with Ripple being the sole shareholder in Metaco’s business.
Yet, the implications of such a development for Ripple and XRP have been the primary topic for speculation. For one, the institutional adoption of Metaco’s crypto custody and blockchain solutions has often been pointed to as a possible route for Ripple to onboard big players and adopt its payment network.
While nothing has materialized on that front, the close sharing of employees could pave the way for such an outcome.
Another speculation is that crypto custody could gradually become a key revenue source for Ripple, causing the company to pay less attention to its core payment network, which uses XRP.
Although nothing suggests that such has already happened or will happen, some XRP proponents have argued that the mere possibility does not bode well for XRP holders.
It remains to be seen whether Ripple will provide further details regarding its operational policies involving Metaco and other acquisitions that will take place in the future. In the meantime, both companies continue to serve Ripple’s overall interest, supporting the growth of the project’s ecosystem.