Ripple Opens Regional Headquarters in Dubai due to Significant Client Base in the Region

Globally-recognized financial firm Ripple has announced to open regional quarters of the Middle East and North Africa (MENA) in Dubai.

According to the Emirate News Agency’s report, Ripple’s headquarters will be built in the Dubai International Financial Centre (DIFC) that has “independent judicial system and regulatory framework.” Dubai International Financial Centre (DIFC) is already having more than 2,400 FinTech companies. San-Francisco-based blockchain company prefers DIFC due to its “its innovative regulations, expansive network and reputation as a leading global financial centre.”

Arif Amiri, CEO of DIFC, believes Ripple is a prominent digital payments company which will assist other FinTech companies in the creation of digital financial system for the future. It is the most crucial addition of DIFC and Ripple will help in shaping and forming the digital economy of the future. UAE has already started a blockchain initiative known as “Emirates Blockchain Strategy 2021.”

Ripple has planned to open regional headquarters in the region because the company has a strong client base in the Middle East and North Africa and South Asia. According to the Managing Director of South Asia and MENA at Ripple, Navin Gupta:

“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.”

Transfer of Ripple’s Main Headquarters

The latest initiative of Ripple is considered as a part of shifting the blockchain-based financial firm out of the United States. Recently, Brad Garlinghouse, CEO of Ripple, revealed it could shift headquarters to other region that has clear regulatory rules and regulations for cryptocurrency and blockchain. But there were strong chances that the company would shift to Singapore or Japan.

DIFC is offering a very charming package for blockchain-based firms, such as Ripple with facilities such as no taxes on profit and on corporate income for 50 years. What’s more, DIFC is also working over launching crypto valley.

However, the top official team Ripple has not yet announced the transfer of the company out of the US.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related

XRP Skyrockets as Price Witnessed 91% Growth Last Month

XRP, the third-largest coin by market cap, has expressed a growth of 91% over the last month which is bullish news for the coin. Based on the views of market experts, there are three fundamental factors that are directly involved in the price hike last month. In order to catch up with other better-performing cryptocurrencies, […]

BitMEX Gives Only Two Weeks to Users for KYC Compliance

Crypto derivatives exchange BitMEX informs its users that they will have only two weeks for verification. If users fail to verify themselves, they will not be able to withdraw funds. Deadline of Two Weeks According to the announcement by BitMEX on November 19, users of the crypto derivatives exchange will have to complete the KYC […]

Ethereum Claims $500, the Highest Value Since June 2018

Ethereum is not lagging behind the top digital asset in performance as it has touched $500, the highest value since June 2018. After more than two years, the second-largest coin by market cap has hit $500 which is very good news for the investors who have invested in the altcoin. On November 20, the largest […]

Don't Miss Out On Bitcoin Storm!

#1 Bitcoin and Cryptocurrency Price Prediction Software / Trading Robot

Sign Up

Try Crypto Engine With a Trusted Broker