Reports are emerging that Ripple (XRP) has opened a new office in Zurich, Switzerland, with the intention of attracting institutional investors. A translation of the initial report is as follows,
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, engage in other business, and may do any business directly or indirectly related to the purpose.
Ripple CEO Brad Garlinghouse recently attended the Swiss National Bank Conference, where he spoke to several financial industry insiders, including the International Monetary Fund’s (IMF) Managing Director Christine Lagarde. He compared Ripple’s xCurrent to SWIFT 2.0.
At the time of writing, XRP is priced at $0.422 with a market cap of $17.8 billion.