CoinVoice has recently learned that, according to Bitcoin.com, Reece Merrick, Managing Director of Ripple's Middle East and Africa region, released a statement on social media praising the UAE's leading position in promoting global cryptocurrency adoption. Merrick stated that the UAE, with its forward-looking regulatory environment, blockchain technology innovations, and growth in stablecoin applications, is becoming a global digital asset hub. 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 sector of the Middle East and North Africa (MENA) region, with Saudi Arabia, Bahrain, Qatar, and Morocco becoming key countries driving this transformation. Notably, the Gulf Cooperation Council (GCC) is leading the wave of asset tokenization, which will bring significant economic opportunities to the region.
Specifically, the rapid development of the UAE Dirham stablecoin and the construction 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 will also support the diversification and strengthening of the regional financial system.
Ripple has stated that it will continue to commit to the development of the digital asset ecosystem in the Middle East and Africa. With an increasingly improved regulatory environment and greater government support, the UAE is expected to lead a new wave of growth in the global digital asset market by 2025. [Original link]
