Ripple, as part of its expansion initiative in Europe, acquired Algrim, a platform for cryptocurrency trading in Iceland. Along with the platform, six of its leading engineers joined Ripple.
Amir Sarhangi, vice president of product department at Ripple, said:
According to many criteria, this already well-coordinated team is ahead of young specialists who still lack skills.
According to the announcement, Iceland will now become another Ripple European engineering center along with London.
Algrim over the past two yearsIntegrated over 30 markets into its evolving cryptocurrency platform. Algrim CEO Dadi Armannsson called the decision to join Ripple a logical step:
Both companies share the desire to expand the use of digital assets and blockchain technology. This is what we have been working on for the past few years.
Last week, Ripple also acquired the Logos Network payment platform as part of its Xpring initiative, and also announced a partnership with MoneyGram.
According to the materials cointelegraph.com