According to CryptoPotato, Ripple is collaborating with the Dubai International Financial Center (DIFC) to enhance blockchain and crypto innovation in the UAE. This partnership aims to support early-stage companies and scale-ups, marking a significant milestone for the DIFC in its role as a global hub for talent and technology. The DIFC, a special economic zone in Dubai, serves as a financial hub for businesses across the Middle East, Africa, and South Asia. It is regulated by the Dubai Financial Services Authority and offers a 50-year guarantee of zero taxes on corporate income and profits to its clients. The collaboration with Ripple is expected to increase crypto adoption among early-stage companies and scale-ups, introducing the benefits of blockchain technology to entities within the zone. Ripple’s CEO, Brad Garlinghouse, praised the UAE for its regulatory clarity, describing it as one of the most advanced jurisdictions globally for licensed companies offering crypto services. He emphasized that the partnership with the DIFC Innovation Hub would drive blockchain technology adoption in the region, with the XRP Ledger (XRPL) continuing to be a leading blockchain for start-ups and scale-ups building real use cases. In 2021, Ripple launched a 1 billion XRP fund to support the development of new global use cases for the XRPL. To date, the company has funded over 160 teams building on the XRPL, spanning 47 countries. Arif Amiri, CEO of the DIFC, highlighted the deal with Ripple as a significant milestone that further cements DIFC’s role as a leading global hub for talent, technology, and innovation. Ripple’s Middle East and Africa (MEA) regional office is located within the DIFC, and less than a year ago, the zone approved XRP for use, allowing licensed crypto firms to incorporate the token into their services. Reece Merric, Ripple Managing Director for the Middle East and Africa, believes that the UAE’s progressive approach to fintech, combined with Ripple’s XRP fund, could create fertile ground for innovation in the region. He stated that the new collaboration with the DIFC would empower regional talent to build the next generation of financial solutions on the XRP Ledger, solidifying the UAE’s position as a leading fintech hub globally. The price of Ripple’s native token, XRP, was affected by the broader crypto market crash but has since recovered some losses, currently sitting close to $0.6. This recovery follows recent developments in the Ripple vs. SEC case, where a judge ordered Ripple to pay a $125 million fine instead of the $2 billion requested by the agency.