'While this outcome is different from what was originally planned, we’ll continue to support them and hope to work together in the future,' said Ripple CEO Brad Garlinghouse.
Ripple said it won't go forward with its outright acquisition of Nevada-based chartered trust company Fortress Trust.
"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," Ripple's CEO Brad Garlinghouse said onRipple said on Sept. 8 that it intended to buy Fortress for an undisclosed amount.
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