The XRP Ledger Foundation, a non-profit organisation that develops the Ripple-backed distributed ledger ecosystem, announced the opening of an office in Tallinn, the capital of Estonia.
The XRP Ledger Foundation is excited to say that we have an office in Tallinn. We look forward to having #XRPL devs visit us there. More info on this soon! pic.twitter.com/uHOTuMEWmz
— XRP Ledger Foundation (Official) (@XRPLF) July 16, 2021
In explaining the choice of location, the XRP Ledger Foundation said there were several reasons. The most significant cited by the organisation were:
- Estonia’s innovativeness;
- advancement in digital document signing—fully digital;
- the possibility of e-residency;
- one of the board members resides in the country.
There are multiple reasons, Estonia being innovative and advanced when it comes to regulations, signing official documents (fully digital), e-citizenship and one of the board members being located there are the most important reasons.
— XRP Ledger Foundation (Official) (@XRPLF) July 16, 2021
The XRP Ledger Foundation said it would disclose details of the Tallinn office’s operations later, and for now is awaiting the arrival of developers.
The creation of an independent organisation aimed at promoting the adoption and development of the XRP Ledger was announced in September 2020. Initial funding for its work of $6.5 million was provided by Ripple, Coil and Gatehub.
In 2020, Estonian authorities revoked licenses from more than 1,000 cryptocurrency companies. In early 2021, the Finance Ministry published a bill tightening rules for the industry.
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