Ripple, the prominent blockchain payment company, is actively pursuing strategic initiatives to expand its operations in the UK and Europe. According to Sendi Young, Ripple’s European managing director, the company has taken steps to secure an encryption license from the UK Financial Conduct Authority (FCA) and a payments license in Ireland.
Ripple UK and Ireland Licenses, Workforce Up by 75%
The application for the encryption license in the UK intends to position Ripple UK and Ireland as an encrypted asset company, while the payments license in Ireland will facilitate seamless payment services within the region. These endeavors underline Ripple’s dedication to fortifying its presence and enhancing its offerings in the European market.
While Young refrains from divulging specific growth targets, she confirms that Ripple is actively bolstering its workforce in the UK and Europe. Over the past 18 months, the company has experienced an impressive 75% increase in its workforce in the region. Currently, more than 100 employees out of Ripple’s approximately 900 global workforce operate from offices in London, Dublin, and Reykjavik, Iceland. Despite the expansion in Europe, Ripple emphasizes that the US remains its global hub, and there are no indications of a shift in that status. The expansion efforts in Europe are strategically geared towards better-serving customers and engaging with the thriving crypto and blockchain community in the region.
The proactive pursuit of regulatory licenses aligns with Ripple UK and Ireland’s steadfast commitment to compliance and legal adherence. By seeking approval from the UK FCA and Ireland’s regulatory authorities, Ripple aims to operate within the legal framework of the respective countries, ensuring a smooth and secure platform for its users. These regulatory endeavors further underscore Ripple’s dedication to responsible and sustainable growth as it continues to make strides in the evolving landscape of blockchain-based payments.
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