"Ripple's new headquarters in Dubai is strategically positioned within the Dubai International Financial Centre, the main hub for regulated financial services, reflecting the company's commitment to the region's growth."
"The Middle East and Africa are critical for XRP's adoption, with the region accounting for about 20% of Ripple's global customer base, including major banks and fintech companies."
"Reece Merrick, Ripple's Managing Director for the Middle East and Africa, emphasized the strong demand from local businesses for regulated, blockchain-powered payment infrastructure, indicating a robust market for Ripple's services."
Ripple has established a new regional headquarters in Dubai, aiming to double its local workforce. This expansion follows six years of partnerships in the Middle East and Africa, with notable clients like Zand Bank and Absa Bank. The regions are significant for XRP adoption due to high remittance volumes and cross-border fees. The new office, located in the Dubai International Financial Centre, reflects Ripple's commitment to meeting local demand for blockchain-powered payment solutions, which has been growing since its initial office opening in 2020.
Read at 24/7 Wall St.
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