• Ripple establishes regional headquarters in Dubai International Financial Centre for its innovative regulations.
• Ripple’s Managing Director for South Asia and MENA indicated that a presence in Dubai will expand Ripple’s client base.

In a press release, the Dubai International Financial Centre (DIFC) has announced that Ripple has decided to establish its regional headquarters in the DIFC. The payment solutions company claims that the country offers innovative regulations, an expanding network and a reputation “as a leading global financial center”.

Adding that the entities share a vision of what the future of finance should look like, DIFC Authority CEO Arif Amiri highlighted the advantages that member firms have in expanding and finding new cooperations among FinTech firms operating under DIFC regulations. Ripple already has over 500 clients, among hundreds of financial institutions using RippleNet in over 45 countries. In that sense, Amiri said:

Leveraging DIFC’s world class platform, laws and regulations, our FinTech firms are able to 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 recognise how digital agendas are being prioritised. Ripple and the other 230+ FinTech related companies in the Centre are key to driving the future of finance.

Ripple drives financial future in Dubai

In late September, Ripple posted a job advertisement requesting an integration engineer to expand its paying brokers. The engineer had to be located in Dubai or the United Arab Emirates (UAE). As Amiri added, Dubai is looking to enhance its blockchain technology capability:

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.

Ripple’s Managing Director for South Asia and MENA, Naving Gupta, noted that the company’s presence in the region will grow. He also indicated that Ripple will be able to expand its relationships with new clients in the 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. 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.

As reported by CNF, Ripple’s CEO Brad Garlinghouse confirmed that the payment solutions company would be moving its headquarters to a country with more pro-crypto regulations than the United States. Among the countries that could be Ripple’s new HQ was the United Kingdom, Japan, among others. Regulations are currently one of the key issues for Ripple. The support of the authorities is necessary to continue with the adoption of its solutions.

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