Ripple sets foot in Zurich, Switzerland: Targets institutional investors


  • The office in Zurich is focusing on attracting institutional investors.
  • The company may establish branches and subsidiaries in Switzerland and abroad.

The San Francisco-based blockchain startup, Ripple has opened a new office in Zurich Switzerland with an aim of pushing XRP towards mainstream adoption. The office in Zurich is focusing on attracting institutional investors. Zurich is among the world’s biggest cities and is home to huge number of banks.

According to XRP Research Center, “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. The company was founded on May 29, 2019 and operates in the sector of ‘Services for banks and credit institutions.’”

Followers of Ripple on Twitter expressed their excitement following the above news and congratulated Ripple for such a groundbreaking move. A user by the name ‘TheCryptoLegend’ said “This is the start of a revolution.  Creating a frictionless global economy. One ripple at a time.” Another user ‘XRP Scan’ added “Interesting development, Switzerland is where the old money banks are.”

At press time, XRP is trading at $0.399 while struggling to break the short-term hurdle at $0.4000. The digital asset is still in the red with losses of 0.35% on the day although it has corrected from the intraday low of $0.3964.

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Ethereum Classic bides time before the next upswing kicks in

ETC price is stuck in a tight range between two key Fibo levels on the 12H chart. Overbought conditions warrant caution but the coin defends key support so far. The 61.8% Fibonacci level of this month's surge at $127.20 is limiting any upside attempt in the spot. Ethereum classic awaits fresh impetus for the next direction.

More Ethereum Classic News

DOGE’s bullish potential appears limited amid overbought conditions

DOGE/USD eyes $0.80 amid a descending triangle breakout on the 4H chart. Overbought RSI remains a cause for concern for the DOGE bulls. Elon Musk’s Saturday Night Live appearance waited for fresh impetus.

More Dogecoin News

MATIC Price needs acceptance above $0.80 to resume uptrend towards $1

MATIC price is primed for another run towards the $1 mark. Bulls need to crack this key hurdle at $0.80 to take on the upside once again. Polygon wavers in a descending triangle with bullish RSI.

More MATIC News

Litecoin price enjoys steady uptrend, but beware of LTC warning signs

Litecoin price closes with a Doji candlestick, indicating an interruption in the trend. Significant Fibonacci level restraining rally from reaching the all-time high. Litecoin price on pace to close with fourth-largest weekly gain since September 2020 low.

More Litecoin News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast

BTC

ETH

XRP