Europe was revealed to be the target for the XRP Ledger Foundation, as it has now managed to establish a brand-new office in Estonia. The European country had been chosen as the new destination due to little red tape as well various regulatory benefits.
Although the current lawsuit between the U.S SEC and Ripple is still ongoing, this has not prevented Ripple from wanting to expand its influence and broaden its horizons, as it had previously set up partnerships and collaborations in Australia as well as Southeast Asia. Many had therefore predicted that should the legal battle not end in favor of Ripple, then an exit strategy of sorts could be implemented where it could leave the United States behind and set up shop elsewhere, which is what the recent new office in Estonia could potentially also help with.
The foundation branches out to Europe
As is often the case with anything in the crypto industry and DeFi sector, the announcement had come through Twitter, as it had been confirmed that the city of Tallinn in Estonia had been selected as the new destination to set up the aforementioned office for the XRP Ledger Foundation.
Also read:As per the details provided in the tweet, the foundation is ecstatic to set up the new office and to formally state that it has now officially branched out to Europe. The tweet further stated that XRPL devs are expected to visit the new office soon and that more information and updates shall be provided as time goes on.
Why Estonia?
Understandably, many are left wondering as to why Estonia of all places was chosen, in particular, an individual with the Twitter username of ‘Beyond the Moon’ who had posted that Tallin, Estonia was actually his hometown, and he was curious as to why the foundation would want to get set up there. Well, we now have an answer. The capital city of Tallinn had been selected because of a few key reasons, chief among which was the fact that the country is highly advanced and innovative regarding regulations and digital documentation, which includes e-citizenship and other related aspects.
The XRP Ledger Foundation had been introduced back in September 2020. It is meant to be a fully independent institution with the primary objective of vastly improving the XRP Ledger’s continued development and adoption. Additionally, the foundation was therefore given grants via Ripple, which had cumulatively amounted to $6.5 million.
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