The office in Zurich is focusing on attracting institutional investors.

The company may establish branches and subsidiaries in Switzerland and abroad.

The San Francisco-based blockchain startup, Ripple has opened a new office in Zurich Switzerland with an aim of pushing XRP towards mainstream adoption. The office in Zurich is focusing on attracting institutional investors. Zurich is among the world’s biggest cities and is home to huge number of banks.

According to XRP Research Center, “the purpose of the company is the sale of digital assets XRP to institutional buyers. The company may establish branches and subsidiaries in Switzerland and abroad. The company was founded on May 29, 2019 and operates in the sector of ‘Services for banks and credit institutions.’”

Followers of Ripple on Twitter expressed their excitement following the above news and congratulated Ripple for such a groundbreaking move. A user by the name ‘TheCryptoLegend’ said “This is the start of a revolution. Creating a frictionless global economy. One ripple at a time.” Another user ‘XRP Scan’ added “Interesting development, Switzerland is where the old money banks are.”

At press time, XRP is trading at $0.399 while struggling to break the short-term hurdle at $0.4000. The digital asset is still in the red with losses of 0.35% on the day although it has corrected from the intraday low of $0.3964.