Ripple establishes its regional headquarters in Dubai
- Per DIFC, this development will help accelerate the Emirates Blockchain Strategy 2021.
- Reportedly, Ripple chose DIFC because of its innovative regulations and expansive network.
- Ripple found DIFC a natural choice because they share a vision of shaping the future of finance.
Ripple has chosen Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa, and South Asia (MEASA) region, as its regional headquarters. DIFC Authority unveiled this news via an official announcement on November 7, noting that the FinTech company chose it over other centres because of its innovative regulations, expansive network, and reputation. The announcement added that Ripple found DIFC suitable because of a shared vision to shape the future of finance.
Commenting on Ripple’s decision to base its regional headquarters in DIFC, Arif Amiri, the CEO of DIFC Authority said,
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“Leveraging DIFC’s world class platform, laws and regulations, our FinTech firms are able to work with other DIFC’s clients, who form part of the region’s largest financial ecosystem, to contribute to the development of the global, regional and local finance industry. During this post-pandemic recovery period, we recognise how digital agendas are being prioritised. Ripple and the other 230+ FinTech related companies in the Centre are key to driving the future of finance.”
Amiri added that Ripple is one of the most exciting client additions to DIFC, seeing as the company is well known for its innovation in the finance sector. As such, Amiri believes the firm will make a good partner client for DIFC. He went on to note that joining hands with Ripple will help push for the use of blockchain technology in Dubai, UAE, and in the MEASA region. Amiri further cited that this development would help expedite the Emirates Blockchain Strategy 2021.
Tapping into the MENA market
According to Navin Gupta, Ripple’s managing director for South Asia and the Middle East and North Africa (MENA) region, DIFC was a natural choice considering the firm already has an established client base in the MENA region. By basing its regional headquarters in DIFC, Ripple believes it will benefit from the numerous of co-locating with its customers.
Gupta went on to note that the DIFC office will serve as a springboard to launch Ripple’s blockchain-based solutions while strengthening ties with financial institutions in the region. He concluded that Ripple already feels very welcome in its new regional office in DIFC.