The crypto industry has been making great strides towards adoption and more visibility around the globe and this has been seen in a number of recent moves such as JP Morgan announcing their own coin, the hype surrounding the upcoming Facebook coin and also be listing of Bitcoin and ethereum indices on NASDAQ.
While this has been going on, Ripple has also scored a huge coup as they were recently listed on Switzerland’s commercial registry. The registration has them listed as Ripple Switzerland GmBh and this move shows that the company is looking to become much more dominant within the European market and the listing also shows the company’s current business intentions.
“The purpose of the company is the sale of digital assets XRP to institutional buyers. The company may establish branches and subsidiaries in Switzerland and abroad, engage in other business activities in Switzerland and abroad and conduct any business directly or indirectly related to the purpose,”
it says on the official website.
It is no surprise that they were able to get listed on this commercial registry at is it is well-known that Europe is a particularly crypto friendly jurisdiction and Switzerland has also shown they are welcome towards cryptocurrency in the last few years. While a lot of the crypto industry is still battling to gain favor and adoption from the US and Asian governments, it seems Europe is moving ahead of the pack. However, it has been speculated that the recent move to Switzerland by Ripple is more intended towards investment and holdings and not pure transactions.
This would make sense as Switzerland is home to over 1,000 potential institutional investors and it would be a prime round to gain adoption for Ripple.
A European Affair
In the last few years, there has been a noticeable trend of many crypto-related companies taking their operations to the places with the most favorable regulations for them which sheds light on just how important it is to lobby for favorable crypto regulations within several parts of the world because the industry is still maturing and as it does, there will be a clear distinction between the areas that are deemed crypto family and those that are not.
As the industry becomes even more lucrative, the countries and jurisdictions are failed to create favorable crypto regulations and attract business will end up being left out on the market and missing out on the opportunities that come along with cryptocurrency.
This was a strategy that Malta figured out very quickly in the crypto game and thus, were able to attract many crypto companies with their regulations that are continuing to thrive in that regard.
This new move to Switzerland by Ripple brings light to yet another possible breeding ground for the cryptocurrency industry and could lead to even more progress for Ripple and XRP. For now, no official partnership or collaboration has been announced via the company’s social media page and the News was confirmed by a Twitter user @xrpCentre.
June 4, 2019
*.@Ripple Switzerland LLC obtains Commercial Registry*
• Social purpose:
“sale of digital assets #XRP to institutional buyers”
— XRP Research Center (@XrpCenter) June 5, 2019
the tweet said.
- Source: First Appeared Here
- Published Time: 2019-06-06 17:10:20
The views and opinions expressed in the article XRP Crypto Company Lands Ripple Switzerland GmbH Registry in a Bid for Global Adoption do not reflect that of 48coins, nor of its originally published source. Article does not constitute financial advice. Kindly proceed with caution and always do your own research.
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