Ripple Will No Longer Acquire Fortress Trust

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Last Updated on September 29, 2023 by Bitfinsider

According to CEO Brad Garlinghouse, Ripple has opted against an outright takeover of Fortress Trust after earlier signing a letter of intent.

“A few weeks ago, we signed a letter of intent to acquire Fortress Trust – we’ve since made the decision not to move forward with an outright acquisition, though Ripple will remain an investor in Fortress,” Garlinghouse wrote on X.

“The Fortress team is incredibly talented, and has built products solving real customer problems,” Garlinghouse stated. “While this outcome is different from what was originally planned, we’ll continue to support them and hope to work together in the future!”

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