ChainCatcher reported that according to Bitcoin.com, Reece Merrick, Managing Director of Ripple Middle East and Africa, recently issued a social media statement, highly praising the UAE's leading position in promoting global cryptocurrency adoption. Merrick said that the UAE is becoming a global digital asset center with its forward-looking regulatory environment, blockchain technology innovation and stablecoin application growth. He emphasized that the future of finance is being built here.
Ripple predicts that by 2025, blockchain technology will be deeply applied in the banking industry in the Middle East and North Africa (MENA) region, with Saudi Arabia, Bahrain, Qatar and Morocco becoming key countries to promote this transformation. It is worth noting that the Gulf Cooperation Council (GCC) is leading the wave of asset tokenization, which will bring huge economic opportunities to the region.
Specifically, the rapid development of the UAE Dirham stablecoin and the establishment of a legal framework for foreign stablecoins are reshaping the cross-border remittance landscape in the Middle East, South Asia, and Africa. Merrick believes that the integration of blockchain and stablecoins will not only change traditional banking models but also contribute to the diversified development and strengthening of the regional financial system.
Ripple indicates that it will continue to commit to promoting the development of the digital asset ecosystem in the Middle East and Africa. With the regulatory environment becoming increasingly refined and government support strengthening, the UAE is expected to lead a new wave of growth in the global digital asset market by 2025.
