(MENAFN – Khaleej Times) Dubai International Financial Centre (DIFC) on Saturday announced that Ripple, the enterprise blockchain solution for global payments, has established its regional headquarters in the centre.
Ripple has chosen DIFC for its innovative regulations, expansive network and reputation as a leading global financial centre. Ripple and DIFC are aligned in their vision to shape the future of finance.
Established in 2012, Ripple builds financial solutions and services to move money at the same speed and standard that information moves today. By joining Ripple’s global financial network, RippleNet, customers can process their payments instantly, reliably, cost-effectively and with end-to-end visibility anywhere in the world. Hundreds of financial institutions already use RippleNet in more than 45 countries, making it one of the leading providers of blockchain for payments.
Arif Amiri, chief executive officer of DIFC Authority, 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.
He said 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, he said.
Navin Gupta, managing director for South Asia and Mena at Ripple said: ‘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.
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