Ripple Teams Up with DIFC to Advance Blockchain in the UAE
Ripple has entered into a strategic alliance with the DIFC Innovation Hub to advance blockchain and digital asset development in the UAE.
This collaboration aims to link developers with the DIFC Innovation Hub, which houses over 1,000 tech companies, venture capital firms, and educational institutions. The goal is to foster blockchain adoption among startups, established companies, and large traditional institutions.
Ripple CEO Brad Garlinghouse highlighted the UAE’s regulatory progress in virtual assets, noting that this partnership is expected to further boost blockchain technology in the region. Ripple has pledged one billion XRP to support projects on the XRP Ledger (XRPL) and has already funded over 160 teams globally.
Arif Amiri, CEO of DIFC Authority, praised the partnership as a significant step in DIFC’s mission to support technological innovation and leadership. Ripple’s MEA regional office is located at DIFC, which recently approved XRP for use within its centre, enhancing blockchain innovation in Dubai.
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Mohammad Alblooshi, CEO of DIFC Innovation Hub, expressed excitement about the partnership, which aims to drive advancements in blockchain and cryptocurrency. Ripple Managing Director, MEA, Reece Merrick, emphasized that the combination of the UAE’s progressive fintech environment and Ripple’s developer fund will spur regional innovation.
Ripple continues to expand its global payment and custody services, now available in over 80 markets, and is planning to launch a USD-backed stablecoin to enhance liquidity on the XRPL.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
