When it comes to the debate on which digital currency has the better chance to make it to the mainstream in the near future, Ripple is hardly ever part of the discussion. That seems only normal, as Ripple is not a decentralized currency by any means, but rather a centralized system with a private blockchain. Despite all of that, the project continues to grow all over the world, and they have opened a new office in London to better serve European customers.
Ripple Is Gaining Popularity In Europe
Locating the new Ripple office in London makes a lot of sense, as this city is the financial capital of the world after all. Whenever a company or service is expanding their service on an international scale, gaining a foothold in London is one of the top priorities when offering a product related to the financial sector.
Ripple CEO and co-founder Chris Larsen stated:
“We’re excited to continue growing our global presence by establishing roots in London, one of the most important financial centers of the world. After establishing our APAC subsidiary last year, we’ve seen tremendous traction in Asia, leading to the recent creation of SBI Ripple Asia, and we’re looking forward to similarly rapid growth in Europe starting with this new office.”
Although many people in the digital currency world may frown upon the approach taken by Ripple to bring blockchain technology and a new ecosystem to the financial world, there is a growing interesting in the service. Some of the company’s major partners – including Fidor Bank and Santander – are located in Europe, and Ripple’s cross-currency settlement solutions are becoming more popular in this region.
It may come as a surprise to hear European banks are among the very first to embrace distributed ledger technology, but that seems to be what is happening, according to the Ripple PR. However, the new London office is just the first step along the way for Ripple, as their new sales director of Europe Patricia Pittomvils will be in charge of strengthening relationships and finding new customers.
This expansion is quite noteworthy, as Ripple now has offices in three different countries, spanning four cities around the world. Now that Europe, North America, and Australia are on the list, the company can start strengthening its position in these areas, and perhaps even try to gain a foothold in Asia in the future.
Source: Business Wire
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