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Ripple chooses Dubai as it’s next Headquarters

by Lisa Zheng

Ripple has chosen Dubai to be the company’s new regional headquarter. Dubai has been chosen as the destination because it is considered to be the fastest-growing fintech city in the world.

Ripple has chosen the Dubai International Financial Centre(DIFC) as its destination. Dubai also has been open to businesses and has kept its regulations friendly and innovative. 

Ripple looking to expand its presence

Ripple is ever-expanding and is now expanding its presence around the world. With its presence in Dubai, it can easily capture the adjoining areas like the entire Middle-east and South Asian region to offer superior services to the client. Ripple has established its name as one of the most recognized firms in the crypto circles and it has always taken efforts to perform cross-border transactions in the most smooth manner possible. It has provided measures enabling it to allow customers to process transfers in seconds using its XRP digital asset. Ripple Net boasts of a vast expansive network with its reach in 45 countries. 

Not that Ripple does not have a presence in the MENARA region, yet it is natural to open a new office in that region to dominate in the region as well as take advantage of the new uprising. Mr. Navin Gupta the Managing Director for South Asia and MENA at Ripple stated: 

“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.”

According to Arif Amiri, the Chief Executive Officer of the DIFC Authority, Ripple will leverage the new location’s world-class platform, its laws, and regulations. Ripple will get a hold of DIFC clients that have already been integrated into the financial ecosystem of the MENA region. In the DIFC region alone there are more than 230 huge Fintech companies that Ripple can take advantage of. 

Ripple and its US regulations

Last month, Ripple’s Executive Chairman Chris Larsen had threatened that his company might leave the U.S. if the country’s cryptocurrency regulations aren’t changed. He called the country’s stance towards cryptocurrency very hostile especially the SEC. With its expansion to other upcoming nations, it can conduct business liberally than it does in the US. The new announcement did not pose much impact on XRP as the currency is being traded at $0.250597 per coin with a market valuation of 

Although the announcement looks promising for Ripple, XRP didn’t seem to be affected. The virtual currency is being traded at a price of $0.249566 per coin. XRP price is down -0.6% in the last 24 hours.


The information discussed by The Coin Magazine is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Do your due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright The Coin Magazine All rights reserved.

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