The enterprise blockchain solution for global payments, Ripple has established its regional headquarters in the Dubai International Financial Centre (DIFC), the leading global financial center in the Middle East, Africa and South Asia (MEASA) region.
Blockchain technology is a decentralized, distributed ledger that records the evidences of a digital asset. It consists of individual blocks of data that involve a series of related transactions, linked together in a specific order.
Ripple has selected DIFC for its innovative regulations, expansion of network and reputation as a leading global financial hub. The DIFC mentioned in its statement that Ripple and DIFC have deployed their vision to shape the future of finance.
“Ripple is one of the most exciting client additions to DIFC this year. They are well regarded globally for innovation in the finance industry and therefore is a perfect partner and client for DIFC, given our vision to drive the future of finance. Together, we will advance the use of blockchain in Dubai, UAE and the region, and accelerate the Emirates Blockchain Strategy 2021”.
“Leveraging DIFC’s world-class platform, laws and regulations, our FinTech firms can 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 recognize how digital agendas are being prioritized. Ripple and the other 230+ FinTech related companies in the Centre are key to driving the future of finance”, added Mr. Amiri.
Navin Gupta, Managing Director for South Asia and MENA at Ripple said, “Ripple already has a significant client base in the MENA region and the opportunity to co-locate with our customers made DIFC a natural choice. Our regional office will serve as a springboard to introduce our blockchain-based solutions and deepen our ties with even more Financial Institutions in the region. We feel very welcome in our new regional home at DIFC”.
Ripple, founded in 2012, develops financial solutions and services to move money at the same pace and norm that moves knowledge. By joining the global financial network of Ripple, RippleNet, customers can process their payments anywhere in the world instantly, efficiently, cost-effectively and with end-to-end visibility. In more than 45 countries, hundreds of financial institutions are now using RippleNet, making it one of the leading providers of payment blockchains.