Global Filecoin Service Provider RRMine Relocates HQs to Singapore

RRMine Global, a Filecoin storage company that offers cloud-computing asset management platforms, has officially announced closure of its business operations in Mainland China and shifted its headquarter to Singapore.

Since its inception, the company has been addressing the lack of liquidity in Web3.0, which led it to become Filecoin platform. Moving forward, the firm is committed to provide a one-stop service to Filecoin storage providers and aims to become a trusted Filecoin solution provider in Web3.0.

The decision to wholly withdraw from Mainland China came about in light of the tightened restrictions on cryptocurrency usage in the Mainland and was solidified by the fact that China’s Web3.0 ^[1] strategy is going in a different direction.

“Very much like other entrepreneurs, we want the best for our company, employees and community. The decision has been made after a profound examination and multiple discussions, and it has not been easy to come back from a downfall, especially when RRMine Global has continuously provided services to all its users globally without fail despite all the events that happened. From today onwards, we would like to move forward and recreate the prosperous scene from China in Singapore.” shared Steve Tsou, CEO.

As Singapore has been one of the world’s most open economies for a long time and has been touted as a welcoming hub for crypto businesses and activities, it has directly opened the path for China’s crypto businesses to consider it as a hub for them to relocate ^[2] to including RRMine Global. In line with Singapore’s vision to become a global crypto economy hub ^[3] , the firm continuously develops and expands globally to ensure accessible standardised Hashrate.

In the first step towards a new start, the company announces ‘R-Datacap Storage, an upgraded service that will reduce operational costs, increase yield effectiveness, and drive the Filecoin incentive plan.

“Unlike other blockchains where users can typically store tiny amounts of data at a high cost, Filecoin’s storage is designed to store large files. We are taking the lead in Web3.0 technology research and development to create a more efficient system for tackling the issue. Data storage providers will receive ten times the output incentive under the FIP-0012 proposal, which 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,” Tsou added.

Back in Mainland China, the firm has achieved success by winning a number of awards. In 2019, RRMine won The Excellent in Technology Innovation Award at Fintech Summit USA 2019 and The Golden Globe Award at FINWISE Summit 2019 (Hong Kong), while in 2020, they won InterPlanetary File System (IPFS) Most Influential Companies 2020, and FAT Storage Brand of The Year 2020.

About RRMine Global
It is a storage service platform under Hong Kong SuperB Grace Ltd. (Youcai Co., Ltd.). The firm’s brand was formerly known as RRMine, aims to continuously develop and expand globally to ensure people can access standardised Hashrate services in more countries and regions. The company is constructing a decentralised global Hashrate infrastructure to achieve the free movement of Hashrate assets and make everyone comfortable holding Hashrate assets. The current focus of the firm is to provide users with secure and transparent decentralised storage services. It is located in more than 10 countries and regions worldwide, and the number of network nodes exceeds 100. Moreover, it has formed a large-scale storage service network coverage and promotes globalisation too.

[1] China is embracing Web3 without crypto, July 2022
[2] Covid restrictions drive some Chinese Web 3.0 firms to Singapore, July 2022
[3] Singapore Has Grand Ambitions to Become a Global Crypto Hub, November 2021