The move is seen as a huge feather in the cap for all involved, as both Ripple and it’s new home, DIFC, look to advance the use of blockchain as payment in the region.
Considered a leader in blockchain-based payment solutions, Silicon Valley firm, Ripple, are looking to get a tighter grip on the MENA market, following the announcement that it is to open a new office in the Dubai International Financial Centre (DIFC).
Founded in 2012, Ripple boasts a global financial network, named RippleNet, through which clients can process payments instantly and cost-effectively with end-to-end visibility. Financial institutions in over 45 countries currently use RippleNet, making it – quite objectively – one of the leading payment solutions providers of its kind in the world.
DIFC very much considers the move a feather in its cap and one of its most exciting additions.
“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,” Arif Amiri, CEO of DIFC Authority, said. “During this post-pandemic recovery period, we recognise how digital agendas are being prioritised. Ripple and the other 230-plus fintech related companies in the Centre are key to driving the future of finance.”
While Ripple has several clients in the region already, the move is seen as a major opportunity to onboard more clients in one of the most diverse and burgeoning ecosystems on the planet.
(Main image of Ripple headquarters in Silicon Valley)
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