XRP Ledger Foundation has set up a new office in a European country, Ripple will bring clarity to crypto industry
Since the beginning of July, XRP price has been trading within the confines of a bearish channel, one that has continuously dragged the cryptocurrency to lower levels on the charts. The lack of volatility did not allow for an even stronger retracement, but reduced trading activity and volume affected the price.
Even so, there is still good news surrounding Ripple which will hopefully help stabilize sentiment around the token. The first news is XRP Ledger Foundation has set up a new office in a European country, choosing the new location for regulatory benefits and little red tape.
XRP Ledger Foundation opens new office in this innovative European country
The XRP Ledger Foundation is a non-profit organization that is meant to support the development of the XRP Ledger. It has received grants from blockchain payments giant ripple, content monetization platform Coil, and UK-based cryptocurrency wallet service Gatehub that totaled $6.5 million.
The foundation expects to get additional financial support from other projects within the growing financial ecosystem.
According to a recent tweet by the XRP Ledger Foundation, it looks like they have opened a new office in a European country, Tallin, Estonia.
The XRP Ledger Foundation is excited to say that we have an office in Tallinn. We look forward to having #XRPL devs visit us there. More info on this soon! pic.twitter.com/uHOTuMEWmz
— XRP Ledger Foundation (Official) (@XRPLF) July 16, 2021
When asked why it chose this location, the XRP Ledger Foundation mentioned that Estonia is a cutting-edge and innovative place when it comes to regulations with its digital documentation, e-citizenship, and other similar things. This is the main reason for choosing this country and hopefully, XRPL developers will come to the office soon.
PAC Protocol CEO David Gokhshtein has published another interesting tweet about Ripple
Recently, PAC Protocol CEO David Gokhshtein shared a post about Ripple on his official Twitter page.
Ripple will bring clarity to the #crypto industry. $XRP
— David Gokhshtein (@davidgokhshtein) July 16, 2021
He thinks Ripple will bring clarity to the crypto industry. His given message resonated with a lot of followers. Some of them expressed hope about it.
Gokhshtein has never hidden his sympathies for Ripple and is one of the active advocates of bringing cryptocurrency into the financial sector. He has also repeatedly stated that Ripple remains on the list of crypto projects that he considers the most promising.
David Gokhshtein’s comments are based on the location of Ripple’s customer network, which mainly consists of central and commercial banks. So far, Ripple has partnered with banks for cross-border money transfers and also offers many features through its RippleNet solution. It gives banks the ability to transfer money without having money in Nostro, like other traditional payments used by banks.
The CEO of PAC Protocol has also repeatedly stated that Ripple (XRP) is as good as Bitcoin. Overall, Gokhshtein considers diversification in cryptocurrency development a successful strategy.
Read more:
- Judge Sarah Netburn Authorizes William Hinman’s Deposition, Ripple May Be Hoping He Thoughts XRP Not A Security
- Jed McCaleb Dumped 150.7 Million In The Past Three Weeks With Half A Million XRP Remaining In His Wallet