Ripple will establish a regional headquarters at Dubai International Financial Centre

09.11.2020
Ripple has announced the establishment of a Middle East and North Africa Regional Unit (MENA) at Dubai International Financial Center (DIFC);

As reports Emirate News Agency, Ripple’s new headquarters in MENA countries will be located at the Dubai International Financial Centre (DIFC), where over 2,400 companies operate, and which has an independent judiciary and regulatory framework. Ripple’s Managing Director for South Asia and MENA countries, Navin Gupta, said:

«Ripple already has a significant customer base in MENA countries and the ability to partner with our customers has made DIFC the ideal headquarters location. Our regional office will serve as a starting point for implementing block based solutions and deepening our relationships with more financial institutions in the region»;

We would like to remind you that in October Ripple CEO Brad Garlinghouse stated that the company may leave the U.S. due to unfavorable regulatory environment. According to his word, Ripple may move from the US to the UK due to better regulation of the cryptographic industry in this jurisdiction;

Dubai’s International Financial Centre has long been working on introducing new technologies to attract more financial companies to the region. In March DIFC and Bank Mashreq announced the launch of a new platform for data exchange, as well as identification of companies and corporations on the block-chain