Ripple, the financial blockchain giant and the creator of XRP announced today that it has acquired Algrim Consulting, a small Icelandic startup company. Ripple said, Algrim will play an integral role in the ongoing development of its On-Demand Liquidity (ODL) product which utilizes XRP cryptocurrency for cross-border payments.
Algrim Consulting was founded om Jun 2010 by Gunnar Kristjansson and Dadi Armannsson. Algrim provides trading infrastructure and financial market technology consulting services.
The decision to join the Ripple team was a natural fit — both companies share a vision to enable widespread adoption of digital assets and blockchain technology, which aligns directly with what we’ve been working towards for the past several years,
said Algrim CEO Dadi Armannsson
To date, Ripple has added over 200 partners to RippleNet and is planning to make Iceland its regional base. The company also has another European office in London, UK along with its presence in New York, Singapore, Mumbai, Sao Paulo, and Sydney.
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