Cryptocurrency company Ripple is relocating from its headquarters from 315 Montgomery St. to 600 Battery St.

The 600 Battery St. location has been owned by a joint venture of TMG Partners and Invesco since 2019. At the time of the purchase, the 125K SF property was fully occupied by IPG, a media company, and now Ripple will fully occupy the building, TMG and Invesco said in a release. The San Francisco Business Times first reported the news.

Phil Tippett and Conor Famulener of CBRE represented the landlord in the transaction. Ripple was represented by JLL’s Brittan Hawken, Derek Johnson and Travis James.

IPG could not be reached for comment on what this means for its future in the office space. The company’s website still lists its 600 Battery St. offices under its UM media brand, though the UM website lists its location as 45 Fremont St.

Public records indicate 315 Montgomery St. is owned by Vornado Realty Trust. Vornado declined to comment.

There has been a flurry of office relocations in San Francisco over the past year, particularly among the tech and e-commerce segments. PayPal is reportedly leaving its space at 425 Market St. Cryptocurrency company Okcoin is moving into an office tower in downtown San Jose, potentially relocating out of its Financial District offices.