XRP-friendly London Could Be Ripple’s New Home

[Galaxy]

Ripple is weighing moving its headquarters from San Francisco to London, as it seeks regulatory clarification for its cryptocurrency XRP. Japan and Singapore are also in the running. In an interview with CNBC today, CEO Brad Garlinghouse said that the UK regulator, the Financial Conduct Authority, has provided Ripple with assurances that it doesn’t consider XRP to be a security—a key source of contention in its home market. Instead, the FCA deems XRP to be a currency, he said, and ”with that clarity, it would be advantageous for Ripple to operate in the UK.”

The $10 billion fintech company has been considering several potential new jurisdictions, and Garlinghouse revealed that the legal status of the XRP cryptocurrency is key in any decision. Japan, Singapore and Switzerland are also under consideration.
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