Ripple Confirms its expansion in Dubai.
Ripple CEO Brad Garlinghouse shared the development, confirming Ripple is expanding in Dubai.
Ripple Expands Its Presence in Dubai
Garlinghouse also took to Twitter to reveal Ripple’s expansion plans in Dubai. In the tweet, Garliinghouse said Ripple is expanding its operations in Dubai. Notably, Garlinghouse first announced the plan at the Dubai Fintech Summit.
“With 20% of our customers based in MENA and clear regulatory regimes being developed, it’s no surprise that Dubai is emerging as a key global financial hub for crypto innovation to thrive,” Garlinghouse said.
As I just shared on stage at #DubaiFintechSummit, @Ripple is expanding in Dubai. With 20% of our customers based in MENA and clear regulatory regimes being developed, it’s no surprise that Dubai is emerging as a key global financial hub for crypto innovation to thrive. pic.twitter.com/9lWEtYECq7
— Brad Garlinghouse (@bgarlinghouse) May 8, 2023
Dubai Local news outlet Zawya also shared the development. According to the news outlet, Ripple opened a new office in the heart of the Dubai International Financial Center (DIFC).
The move is imperative given that 20% of all RippleNet customers are located in the Middle East and North Africa (MENA). These clients include Qatar National Bank, SABB, RAK Bank, Al-Ansari Exchange, Lulu Financial Holdings, etc.
Ripple to Host Swell Global 2023 in Dubai
Meanwhile, Ripple also plans to host the seventh edition of its annual customer conference, Swell Global 2023, in Dubai. The two-day event is scheduled for November 8-9, 2023.
Garlinghouse lauded Dubai’s regulatory environment for allowing Ripple to establish a key office and hold Swell Global, Brad commending Dubai’s framework for facilitating growth and job creation in the crypto industry while ensuring participants’ responsible conduct.