Ripple Not Looking to Exit US as New HQ Now Functional in San Francisco

Ripple is poised to continue operating in the United States as the blockchain company opens its new corporate headquarters in San Francisco.

Crypto payments company Ripple has finally opened its new corporate headquarters in San Francisco. The development was shared yesterday in a tweet by David Schwartz, Ripple’s Chief Technology Officer (CTO).

Interestingly, Schwartz attached some beautiful photos to the tweet showing the new look of Ripple’s new San Francisco headquarters, leaving XRP holders stunned.

– Advertisement –

Ripple Leases Historic Building

For context, Ripple’s new corporate headquarters is located at 600 Battery St. in Jackson Square, close to the Embarcadero, San Francisco.

Recall that Ripple leased an entire two-story historic building last year for an undisclosed fee. It bears mentioning that the building was built as far back as 1927.

However, its owners renovated the building into corporate offices two decades ago. Following the renovation, the 130,000-square-foot building was later acquired by two real estate firms, Invesco Real Estate and TMG Partners, in 2019 for $125 million.

With Ripple moving into its new corporate headquarters in San Francisco, it is unclear whether the company will continue to run some operations at its former office at 315 Montgomery St.

XRP Community Members React

Meanwhile, Ripple’s opening of a new corporate headquarters in San Francisco has stirred reaction among XRP holders.

For many XRP enthusiasts, the move suggests that Ripple has no plans to leave the United States anytime soon despite being embroiled in a multi-year legal tussle with the Securities and Exchange Commission (SEC).

Sticking around the USA, that’s good!!

— Sharkey Johnson (@SharkeyJohnson) December 12, 2023

SEC v. Ripple Lawsuit

Notably, Ripple opted to open a new corporate headquarters in San Francisco last year when the lawsuit was still far from the summary judgment.

However, the blockchain company was confident that the ruling would be in its favor. Hence, it chose to open a new corporate headquarters in San Francisco.

The court later issued its highly-anticipated summary judgment, with Ripple securing a partial victory. While the lawsuit is currently in the remedies phase, it is unclear whether the SEC would appeal the summary judgment decision or agree to a settlement.

As reported earlier, the SEC held a closed-door meeting with a critical discussion on the settlement of injunctive actions and administrative proceedings.

Although the SEC did not mention the Ripple case in the announcement, XRP enthusiasts speculate that the commission could comment on the lawsuit during the meeting.