Ripple Labs, the enterprise that created the XRP crypto asset filed a new market unit in Wyoming.
WELCOME TO #Wyoming, @Ripple! More #crypto cos are realizing Wyoming is a better domicile than Delaware due to our crypto-friendly laws. People often ask how many cos have relocated/redomiciled to Wyoming--we dunno. We don't keep lists & we like it that way #XRP @Mark_Gordon_WY🤠 pic.twitter.com/zsUApz25Jy— Caitlin Long 🔑 (@CaitlinLong_) February 21, 2021
Wyoming Secretary of State published a paper informing that Ripple Markets WY LLC’s class as an internal market is listed as operating following an original submission in February 2020. Ripple's registered deputy will be located in Cheyenne as a limited liability firm in Wyoming.The new firm's main building is still based in San Francisco and has the same position as Ripple Labs.
The company has been experiencing difficulties after the SEC filed a lawsuit against it. The last firm stopping trading on Ripple's platform became major money transfer company MoneyGram.
Meanwhile, the case is in process and the sides are unlikely to agree on a pre-trial settlement.