Ripple has been taking over acquisitions from various companies for some time. Today Ripple reports that they are expanding to Iceland by taking over Algrim.
What does Ripple want to achieve with this?
The acquisition adds six engineers to the Ripple workforce. They will mainly work on the integration of Ripple and XRP on online crypto fairs.
Ripple has a big impact and has appointed Algrim in Iceland as one of the company’s engineering hubs. This is the second European location, Ripple is already in London.
Amir Sarhangi, Vice President of Ripple products, says about the acquisition:
“This team has been around for a long time and has a lot of experience, instead of having to build a new team to gain knowledge.”
Algrim and Ripple fit well together
In the past two years, Algrim has integrated more than 30 markets on their self-developing crypto trading platform. They pride themselves on experience, they say they add more than ten years of experience to Ripple.
Algrim CEO, Dadi Armannsson, described the decision to become a member of Ripple as a logical decision. He explains:
“Both companies have the vision to ensure that digital resources and blockchain are widely accepted. This is in line with what we have been working on in recent years. “
Positive influence on course
At XRP you see that with this kind of news, the course is moving up. Even today, the rate has risen by almost nine percent. Of course you can never say with certainty that the price increase is due to the news about the acquisition, but it is very coincidental if that is not related to each other.Earlier this year, Ripple made ornamental with their collaboration with MoneyGram. and also then the rate rose by no less than nine percent. Last week Ripple announced that it would be taking over Logos Network.
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