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Ripple Looking Into Japan as One of Possible Markets to Relocate Its Headquarters to


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22 hours ago, Dario_o said:

Japan is likely to become a new home for Ripple, according to CEO Brad Garlinghouse

https://u.today/ripple-looking-into-japan-as-one-of-possible-markets-to-relocate-its-headquarters-to

Japan? Isn’t Japan where 30-40 banks were gonna be using XRP by 2018? Where are they now?

Brad should just shut up. He looks like a whining child with these threats to the US. Desperate move... 

Edited by XRPage
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10 hours ago, Dario_o said:
  • Japan seems to be the top contender for the new Ripple headquarters.

Depends on which of those awful crypto blogs you tend to believe; they all spin it differently! 

From the actual source (CNBC):

(https://www.cnbc.com/2020/10/23/crypto-firm-ripple-considers-relocating-to-london-over-us-regulation.html)

Quote

Ripple, the $10 billion financial technology company best known for cryptocurrency XRP, is considering relocating its headquarters overseas due to frustration with the U.S. regulatory environment.

The San Francisco-based firm’s CEO Brad Garlinghouse, who says he visited London only last month, told CNBC that U.K. markets watchdog the Financial Conduct Authority doesn’t deem XRP a security — a key source of contention in its home market. Other regions had provided similar assurances, he added.

“What you see in the U.K. is a clear taxonomy, and the U.K.’s FCA took a leadership role in characterizing how we should think about these different assets and their use cases,” Garlinghouse said.

“The outcome of that was clarity that XRP is not a security and is used as a currency. With that clarity, it would be advantageous for Ripple to operate in the U.K.”

In addition to the U.K., Garlinghouse said Switzerland, Singapore, Japan and the United Arab Emirates were also under consideration for Ripple’s potential move abroad.

Which seems pro-London, but remember, it's written from CNBC's London desk. So they might spin it there favorably. 

Coindesk just copy-pastes CNBC with bullets: 

https://www.coindesk.com/ripple-eyeing-move-to-london-over-xrp-friendly-stance-ceo-says

And Bloomberg reports... 

https://www.bloomberg.com/news/articles/2020-10-22/ripple-considers-japan-singapore-if-blockchain-firm-leaves-u-s

Quote

Ripple Labs Inc. has shortlisted Japan and Singapore as countries the blockchain payment services company could move to if it leaves the U.S. due to a lack of regulatory clarity, its top executive said.

Switzerland, the U.K. and the United Arab Emirates are also potential destinations, Chief Executive Officer Brad Garlinghouse said in an interview. “The common denominator between all of them is that their governments have created a clarity about how they would regulate different digital assets, different cryptocurrencies,” he said.

So no particular favoritism to Japan that I can see other than Bloomberg talks about the SBI connection a bit more. But it's written by Takashi Nakamichi who seems to be Japanese, so again, it's SPIN. Always look for the SPIN! 

----- 

In my personal uneducated opinion, Japan does make some sense given Kitao's political influence and positive outlook on Ripple/XRP. However it would be a massive, complex move to a new culture and setting. Not sure it'd play out smoothly and Japan's economy is generally stangant. 

Singapore makes more sense to me given its history as a fintech friendly jurisdiction and history of trading, finance, connections as a hub linking to both Europe and Asia, etc. Also the culture is more Western than many Asian places, but it too has its problems and cultural quirks.

The UK would be awesome and I'm totally biased in my appraisail, but its tax laws are very forward and culturally it'd be the easiest change. Problem is we're in the midst of a political nightmare with Brexit and general political uncertainty since COVID hit. A Labour govt could totally overhaul the current favorable tax regime. It depends also on whether a post-Brexit UK looks more like a tax-haven, a Singapore style trading hub, or a struggling once-great power with only feint trading connections to Europe and bleeding economy. If on the other hand Brexit is a success, maybe that works in the UK's favour e.g. with a new trading block. Not sure. 

Edited by thinlyspread
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I would applause a Japan move linking asia and the west. Japan has a huge problem with bureaucracy and slow implementation. The world is old and slow and I feel ripples move would excel things quite quickly. I don't think Japan will remain this way for much longer, like a rubber band that keeps beings stretched, but ripple could help launch it.  

 

In my opinion, Japan is the kingdom of silos. Nothing is connected  and everything is private and independent.  Everything from it's banks, Internet (I once had to pay the ISP and the ISP's rail link providers in separate bills), public transport, there's always a couple of options completely segregated. Heck, even their electric system is divided with half the country running 60Hz and 50 Hz lol.  Ripple here in a perfect world of adoption domestically would be VERY advantageous in the remittance world. 

 

We shall see, the statement by Brad is very hopeful either way for lighting a fire under sec and or moving the company forward. 

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Moving overseas won't fix the fact that there still won't be liquidity on the US side, as many have said there must be enough liquidity on both sides of the transaction.

If a move were to happen, I suppose they could focus on UK <> JPN, JPN <> KOR, JPN <> RMB, AUS <> RMB, type of corridors until the US gets its regulatory act together. Japan's largest trading partner is actually China, there's ~$300 billion in volume annually.

If anything, there's more money going between Japan and China than Japan and the US, (only $200 billion annually). You could argue there's even more incentive for Ripple to get into the JPN <> RMB game, but I don't know how keen Chinese banks are to use US tech, obviously SBI Japan is on board.

China has Ant Financial coming up too so who knows.

MoneyGram is already using XRP commercially as a commodity, I really don't understand what more these bodies need to understand. The SEC hasn't shut down MoneyGram, it makes no sense unless there's backroom deals or just sloth, idk.

Edited by jetbrzzz
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I am assuming that the move is to remove Ripple from being tied up in legal disputes within the U.S. that could jeopardize Ripples International goals. If Ripple is in a nation that has clear regulations towards D.A. then other nations who would like to utilize the tech do not have to worry about Ripple getting tied up in a legal dispute. IDK, but I assume the fear would stem from the U.S. freezing the xrp in escrow from being distributed or freezing tech updates that could then cripple existing customers. 

As far as moneygram, I believe they made the jump to XRP for two reasons, ripple bought a board seat and they are in the process of digitizing their entire system to make money. I guess I should have said one reason. Moneygram owes a lot of money and anything that drags them out of that hole to be profitable may be worth the risk.

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