Continuing its legal fight with the SEC, Ripple continues to expand outside the USA.
At this point, Ripple announced an important partnership with the UAE-based DFIC Innovation Hub in order to expand its presence in the Middle East region.
Announcing a strategic partnership with the DIFC Innovation Center, Ripple aims to gain an important place in the Middle East market.
It was stated that this partnership aims to increase blockchain and digital asset innovation within the UAE.
“This partnership will enable the adoption of blockchain and cryptocurrencies among early-stage and scalable companies, as well as introduce and position the technology within traditional large strategic institutions and their use cases.”
“The Ripple collaboration further solidifies DIFC's role as a leading global hub for talent, technology and innovation, driving the future of finance, as we continue to evolve our ecosystem supported by a world-class regulatory jurisdiction,” said Arif Amiri, CEO of DIFC. said.
Brad Garlinghouse, CEO of Ripple, said: “The UAE is one of the most advanced jurisdictions globally in providing regulatory clarity for licensed firms to offer virtual asset services and fostering an environment where next-generation financial innovation can thrive. Our partnership with the DIFC Innovation Centre, XRPL is one of the region's real use cases.” “It aims to promote the adoption of blockchain technology in the region while remaining a leading blockchain for startups and scalers.” said.
Recognized as the largest innovation community in the region, the DIFC Innovation Center hosts more than 1,000 technology firms, venture capital organizations and regulatory bodies.
The DIFC Innovation Center approved XRP for use within the DFIC in November 2023, allowing licensed virtual asset companies to include XRP in their services.
*This is not investment advice.