Fresh off a partial victory against the mighty U.S. Securities and Exchange Commission (SEC), Ripple isn’t just resting on its laurels. The cross-border remittance firm is charting its path to global dominance, focusing its efforts on a strategic expansion into Europe and the UK. Who said crypto doesn’t make for a compelling underdog story?
- Ripple plans to establish itself as a crypto asset firm in the UK, following its recent victory against the SEC in the US.
- The company is also applying for a payment institution license in Ireland, as part of its expansion into Europe.
- Ripple has seen a significant increase in headcount and hiring for mission-critical roles, with a 75% growth in its UK and European workforce in the past eighteen months.
- Despite its global ambitions, Ripple still considers the US as its global hub, but most of its recent expansion has happened outside of the US.
- Ripple’s managing director believes that a more nuanced approach to regulation is needed, as “regulation by enforcement” hinders innovation and investment.
Hot Take:
Ripple’s strategic expansion into Europe and the UK shows its determination to establish itself as a major player in the crypto industry. With plans to become a crypto asset firm in the UK and apply for a payment institution license in Ireland, Ripple is positioning itself for global dominance. The company’s significant increase in headcount and hiring for mission-critical roles further demonstrates its commitment to growth. However, Ripple’s managing director also emphasizes the importance of a balanced approach to regulation, highlighting the need for innovation-friendly policies to attract global companies. Overall, Ripple’s expansion plans and philosophy on regulation showcase its ambition and resilience in the competitive crypto market.
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