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Your email address will not be published.

Related

Crypto.com Removes Cryptocurrencies from Earn Program

The current turmoil in the cryptocurrency market has forced a number of companies in the space to shift their strategy and come up with new approaches that can help them pull through the downtrend. Crypto.com is also doing the same as it announced that they are making changes to their rewards program called Crypto Earn. […]

A Particular Even May Help Recover Shiba Inu’s Price

The trading price of Shiba Inu (SHIB) experienced a gigantic plunge that was triggered due to the recent bloodbath of cryptocurrency. SHIB Bleeds Badly As the cryptocurrency industry suffered a bloodbath, the trading price of Shiba Inu experienced an even worse situation. SHIB’s trading price reportedly suffered double-digit losses. Despite suffering huge losses, the analysts […]

Price of Bitcoin Suffered another Dip Due to Cypherpunk Holdings

The price of Bitcoin (BTC) ended up experiencing a dip and it came down to $20,200. Bitcoin’s price dipped due to a strong selling that was nothing less than a bloodbath. A great sell-off activity was recorded for Bitcoin that was triggered by multiple institutions. Even the investment firms ended up selling Bitcoin on a […]

Stocks Slip and Yields Ease in Light of Powell’s Comments

On Wednesday, global indexes saw stocks edge lower for the most part, while Treasury yields eased, as investors were taking in the comments of Jerome Powell, the Chairman of the US Federal Reserve. He said that while there was certainly a risk of the economy slowing down too much because of aggressive hikes in interest […]

Asia-Pacific Stocks Gain with Investors Weighing Economic Concerns

On Tuesday, shares in the Asia-Pacific region climbed higher, as investors were weighing the economic concerns. Most indexes record gains The Hang Seng index in Hong Kong had been trading at a loss but rose 0.7% in the last hour of trading. There was also a 0.73% gain in the Hang Seng Tech index. On […]