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Ripple has opened a Swiss subsidiary for institutional XRP sales

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3 minutes ago, DarthTrader said:

I enjoy the speculative/theoretical as much as anyone.  Is the connection you are drawing just Switzerland and the timing? Or is there something else I am missing?   

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Posted (edited)

Facebook is going to build an stablecoin and there are a lot of reasons using XRP ledger in which they can introduce an IOU. This can result in an increased XRP and FB coin requirement why they may biulding an office in one of the importest financial countries within a month.

so yes :dirol:

and this:

 

Edited by DarthTrader

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1 minute ago, DarthTrader said:

Facebook is going to build an stablecoin and there are a lot of reasons using XRP ledger in which they can introduce a IOU. This can result in an increased XRP and FB coin requirement why they may biulding an office in one of the importest finacial countries.

So Yes :dirol:

Sexy if true.

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Interesting players at Ripple Switzerland:

Peter Eames, - Formerly in San Francisco - Ripple Controller https://www.linkedin.com/in/peter-eames-8304953/

Catrina Luchsinger Gähwiler, Formerly with FRORIEP for over 12 years

Company NameFRORIEP

Total Duration12 yrs 6 mos

TitleBanking & Finance Partner

Dates EmployedJan 2007 – Present

Employment Duration12 yrs 6 mos

LocationZurich

• significant transactional experience in financing (e.g. syndicated loan transactions, project financing), equity capital market transactions and public takeovers as well as M&A
• supported post merger integration processes;
• experienced in questions of corporate governance and legal compliance programs;
• advises on regulatory and contractual matters related to the financial market industry;
• main industries: financial services, real estate;
• focus on European and Asian-based clients

Elizabeth Chien - VP global Tax at Ripple San Francisco - https://www.linkedin.com/in/lizchien/

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2 hours ago, 69GTOjudge said:

This is not competition, it is good news because it introduces more currencies that will need to be bridged with a no-counterparty non-acked non-state currency. No major bank will want to use a competitor's coin. It makes zero sense.

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5 hours ago, DarthTrader said:

biulding an office in one of the importest financial countries within a month.

 

Actually doesn't seem they have the intention to open a physical office, considering the address is a c/o one.

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40 minutes ago, Panopticon said:

This is not competition, it is good news because it introduces more currencies that will need to be bridged with a no-counterparty non-acked non-state currency. No major bank will want to use a competitor's coin. It makes zero sense.

At the very least it's an indication that these 14 major financial firms understand the utility of crypto. If Ripple has the best product, then...?4U...why not buy what Ripple is selling? Is the price of entry more expensive that spending millions to develop your own crypto-currency with a  limited application? 

I wonder, why re-invent the wheel? Agreed, it makes zero sense.

Haven't many of these banks mentioned in the article also been mentioned as potential Ripple partners in the past?

https://blokt.com/news/major-banks-join-hands-to-develop-cryptocurrency-for-overseas-money-transfers

 

 

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4 minutes ago, 69GTOjudge said:

I wonder, why re-invent the wheel? Agreed, it makes zero sense.

Haven't many of these banks mentioned in the article also been mentioned as potential Ripple partners in the past?

Something seems fishy.....if they have tasted the kool-aid of Ripple / xRapid solutions. Then what would cause a Bank to decide to self develop from scratch?  

Makes ZERO sense......ZERO.  there has to be additional data to add to this mystery.

 

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I think this is just Ripple moving into a more favourable regulatory landscape, and who wouldn't considering how hostile the SEC appears to be towards Fintech innovations. 

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