RRmine Global, a Filecoin service provider offering global cloud-computing asset management, announced on Wednesday that it has ceased business operations in mainland China and is moving its headquarters to Singapore.
The company said the decision to move countries and launch upgrades to their systems comes after the company was rebranded from RRmine to RRmine Global.
RRmine Global is ending its operations in Mainland China after the Chinese government tightened cryptocurrency restrictions, reflecting the government’s commitment to heavily regulated the Web3 industry. Steve Tso, Global CEO of RRmine Global, shared:
“Like other entrepreneurs, we want the best for our company, employees and community. The decision has been made after a thorough examination and many discussions”
Singapore seems like an obvious choice for the project, as several Chinese Web3 companies have already made their move to the country. Singapore offers a relatively balanced regulatory approach towards the emerging crypto industry, and has a reputation for being one of the world’s leading open economies.
The company also revealed the official launch of a new upgrade service ‘R-Datacap Storage’ which is expected to reduce operating costs and increase yield efficiency.
CEO, Steve Tso shared, “We are a leader in Web 3.0 technology research and development to create a more efficient system to tackle this issue. Data storage providers will receive ten times the output incentive under the FIP-0012 proposal , which is Filecoin approved. We are excited to bring this innovation to RRmine Global and Filecoin users very soon. It will undoubtedly be a game changer for our storage industry.”
