Ripple, the company behind XRP, announced the acquisition of Icelandic crypto-trading firm Algrim.
The 6-person Icelandic company will help Ripple gain a foothold in Europe.
Ripple has been acquiring companies left and right in order to widen its grip over the international market.
The 6-person team will play an "Integral role" in Ripple's ongoing On-Demand Liquidity product, the company said in a blog post.
"With built-in expertise in trading and exchanges, the addition of Algrim's engineering talent to our team will be instrumental in continuing the momentum we're already experiencing with On-Demand Liquidity," said Christopher Kanaan, SVP of engineering at Ripple.
Algrim is the latest company to join Ripple's acquisition streak-last week, Ripple announced the acqui-hire of payment platform Logos, adding eight engineers to its Xpring team.
Ripple's latest acqui-hire marks the beginning of European expansion.
The switch to crypto came after the "Big Heist" of 2017, when the company lost hundreds of thousands of dollars worth of crypto mining equipment.
Ripple plans on utilizing both the company's talent and its physical location.
With a physical presence in New York, London, San Francisco, Mumbai, Singapore, Sydney, and São Paulo, Ripple's foray into Iceland will help the company expand its presence in Europe.
Ripple acquires Icelandic crypto exchange to expand presence in Europe
gepubliceerd op Sep 30, 2019
by Cryptoslate | gepubliceerd op Coinage
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