The CEO and chief product officer of Metaco, the cryptocurrency custody firm acquired by Ripple in May 2023, have left the company.

A Ripple spokesperson confirmed CEO Adrien Treccani and Chief Product Officer Peter DeMeo were gone and said: "We appreciate the strong and industry-leading custody business that Adrien and his team built, as well as his leadership in integrating the custody team and solution with Ripple following the acquisition last year. Custody remains integral to Ripple's growing business as we continue to provide best-in-class enterprise crypto solutions for our customers around the world."

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.