The San Francisco-based blockchain payment technology giant Ripple has formed a new regional office in Dubai. Ripple selected Dubai’s special economic zone called Dubai International Financial Center (DIFC) for opening its new regional headquarter, as per an official announcement made by DIFC. The company will work within the innovative and dynamic ecosystem of DIFC. As per DIFC’s claim, it is considered as “the leading global financial centre in the Middle East, Africa, and South Asia (MEASA) region.”
Dubai International Financial Center’s reputation and innovative regulations have led Ripple to select this economic zone for establishing its new office. The newly-established regional headquarter will be acting as a “springboard” for introducing the company’s blockchain technology-based solutions, said the Managing Director for South Asia and MENA at Ripple, Navin Gupta. He said that this office will also help the company in strengthening its relationships with more financial institutions in the DIFC region. “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,” he claimed.
Commenting on this, the Chief Executive Officer (CEO) of Dubai International Financial Center Authority Arif Amiri said that their fin-tech companies leverage rules, regulations, and top-quality platform of DIFC for cooperating with other clients of the region “who form part of the region’s largest financial ecosystem, to contribute to the development of the global, regional and local finance industry”. Adding more to it, he said that Ripple and other major fin-tech companies can play a crucial role in shaping the future of finance and may drive it further.
In addition to this, he said that for the present year, the blockchain payments tech firm Ripple is one of the fantastic additions in the region. He called the company a perfect client and partner for DIFC because it is “well regarded globally for innovation in the finance industry.”
Furthermore, he claimed that they will work together with Ripple for advancing blockchain usage in the region, Dubai, and the United Arab Emirates (UAE) in the future. Moreover, they will work on boosting “the Emirates Blockchain Strategy 2021”, he said.