Ripple co-founder Chris Larsen has expressed his support for Britain’s finance and technology innovations.

The blockchain company’s co-founder cited a tweet from Chancellor Jeremy Hunt, who defines the UK as “Europe’s Silicon Valley.”

Hunt has clearly defined his vision for the UK, concentrating on transforming the country into a hub similar to Silicon Valley, underscoring its potential for technological and financial advances.

The Chancellor has conveyed his ambition for Britain to become the next Silicon Valley on numerous occasions, showcasing this vision to representatives from major tech firms such as Meta, Microsoft, Amazon, Apple, and Google, Crypto News reports.

Indeed, during one of his appearances in London, the Chancellor unveiled a robust plan focused on stimulating the UK economy and pinpointing green industries, digital technology and life sciences as crucial growth sectors.

Hunt said the presence of these tech titans is vital to Britain’s economic future, stressing the need for the so-called “four Es of economic growth”, namely enterprise, education, employment, and expansion.

Due to Britain’s progressive approach to fintech, Ripple is focusing on London to boost its crypto growth.

Indeed, Ripple's head of policy, Susan Friedman, commended the government’s proactive stance towards fintech, in particular central bank digital currencies (CBDCs), noting the Bank of England’s commitment to the Digital Pound initiative.

She also referred to the wide range of opportunities in London due to its conducive environment for crypto growth and Ripple’s subsequent expansion in the capital, U Today reports.

Ripple has been concentrating on joining the country’s register of crypto companies following the favourable court ruling against the US Securities and Exchange Commission.

In addition, Ripple’s European managing director, Sendi Young, referred to the firm’s recent registration application with the UK’s Financial Conduct Authority as well as preparations for a payment institution licence in Ireland.