What a way to start off the week. Ripple expands its European Operations to Iceland. Ripple posted a Ripple Insights article this morning titled: Ripple Continues Acquisition Streak, Expands European Operations to Iceland
From the article, we find out that Ripple welcomes a new team of engineers with its acqui-hire of Icelandic crypto trading firm Algrim. Algrim will play an “integral” role in the ongoing development of its On-Demand Liquidity (ODL) product which utilizes XRP cryptocurrency for cross-border payments. Did you miss that? Algrim will develop a product which will utilize XRP for cross border payments. Are we starting to see companies jump right into XRP and skip Xcurrent? Time will tell.
The decision to join the Ripple team was a natural fit — both companies share a vision to enable widespread adoption of digital assets and blockchain technology, which aligns directly with what we’ve been working towards for the past several years,” said Algrim CEO Dadi Armannsson
Just last week, we got news of Ripple acquiring Logos and adding 8 engineers to the Xpring team who will explore developing a decentralized finance (DeFi) system built on XRP. We covered that story here: https://xrprightnow.com/ripples-xpring-acquires-decentralized-payments-platform-logos-network/. With this acquisition Logos acqui-hires will now help Ripple build XRP derivatives, loans, futures and forwards.
As the year is coming to an end Ripple is really starting to ramp it up. Unlike last year I believe the end of 2019 leading us into 2020 will bring the excitement back into the market.