Ripple (XRP) Signs Key Deal in the Middle East

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Ripple’s CEO stated that their new partnership with the DIFC Innovation Hub will help boost blockchain technology in the region. Ripple is teaming up with the Dubai International Financial Center (DIFC) to support blockchain and crypto innovation in the UAE, particularly for early-stage companies and scale-ups.

This collaboration is a major milestone for the DIFC, strengthening its position as a global hub for talent and technology.

Ripple is set to enhance its global presence through a partnership with the Dubai International Financial Center (DIFC).

The DIFC, a special economic zone in Dubai, serves as a financial hub for businesses across the Middle East, Africa, and South Asia. Regulated by the Dubai Financial Services Authority, the DIFC offers a 50-year guarantee of zero taxes on corporate income and profits.

The collaboration aims to increase crypto adoption among early-stage companies and scale-ups and to

introduce blockchain technology benefits to entities within the DIFC. Ripple’s CEO, Brad Garlinghouse, praised the UAE for its regulatory clarity and described it as one of the most advanced jurisdictions for offering crypto services.

Garlinghouse highlighted that the partnership with the DIFC Innovation Hub will promote blockchain technology in the region, with the XRP Ledger (XRPL) continuing to lead as a blockchain for start-ups and scale-ups. In 2021, Ripple launched a $1 billion XRP fund to support XRPL development and global use cases, funding over 160 teams in 47 countries.

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