The cryptocurrency startup team Ripple talked about the acquisition of the Icelandic company Algrim. According to experts, with its help they will be able to implement a plan for expansion in Europe. Information about this was presented on the official startup’s website.
How much Ripple spent to acquire Algrim is unknown. At the same time, startup representatives disclosed that six engineers were accepted into the project team during the transaction. Recall that Iceland was not the first point on the map of the Ripple expansion. The startup has previously opened offices in San Francisco, New York, London, Mumbai, Singapore, Sao Paulo and Sydney. Representatives of the project do not deny the possibility of further expansion.
According to representatives of the project, the Icelandic unit will develop technical solutions for organizing international payments. Also, the Icelandic center is planned to be used to attract specialists to the project team.
Algrim representatives described the deal as follows: “Our joining Ripple was a natural step, as our companies’ experts think in the same direction regarding the development opportunities of cryptocurrencies and blockchain technology.”
Recall, in recent years, Ripple has been surrounded by scandals related to the accusation of the project team in manipulating the cryptocurrency rate. Against the background of a tense situation, the head of the startup Brad Garlinghouse was forced to present a startup management strategy. According to the specialist, XRP sales are necessary to maintain the health of the project.