This summary text is fully AI-generated and may therefore contain errors or be incomplete.
Metaco, the Swiss digital assets custody firm that was acquired by Ripple earlier this year, has announced a partnership with HSBC, one of the world’s largest banks. This news has been met with excitement by supporters of Ripple’s ledger protocol, known as the “XRP army.” These enthusiasts believe that HSBC’s choice of custody tech partner is a strong indication that financial institutions will eventually adopt XRPL and the XRP token. However, it is important to note that HSBC’s decision was not solely influenced by Ripple’s recent acquisition. In fact, Metaco had been pursuing a partnership with the bank for over 18 months. The crypto space is known for its tribalism, with token holders fiercely loyal to their chosen blockchain. They hope that their investment will bring them significant returns, sometimes to the point of disregarding logic. Despite this enthusiasm, it is crucial to consider the full context and not jump to conclusions based on limited information.