Blockchain
The recent shout-out from the Dubai government’s media office comes a few days after Ripple expanded to the city with a new office.
The official media agency of the government of Dubai has spotlighted Ripple as a major player and leader in enterprise blockchain solutions and crypto solutions. This shout-out from the government’s media agency came in response to Ripple’s latest move to expand into the city with a new office.
.@Ripple, the leader in blockchain and crypto business solutions, is expanding its presence in #Dubai with a new office at the Dubai International Financial Center (@DIFC). Progressive regulations and a robust technical infrastructure have helped Dubai consolidate its status as a global… pic.twitter.com/817SjY299s
— Dubai Media Office (@DXBMediaOffice) May 11, 2023
The government agency drew attention to Dubai’s forward-thinking approach to innovative and emerging technologies such as blockchain and cryptocurrency, as evidenced by favorable policies surrounding these sectors. The media agency says this favorable policy has attracted industry leaders, including Ripple.
Consider that, like Previously reported by The Crypto Basic, Ripple confirmed at the Dubai FinTech Summit that the company is expanding into the city. Ripple also unveiled in a press release that they had opened a new office in the Dubai International Financial Center (DIFC) as they continued to penetrate the Middle East and North Africa (MENA) region.
Amid the regulatory uncertainty plaguing the local crypto industry in the United States and the protracted legal battle with the US SEC, Garlinghouse revealed in an interview last June that Ripple would consider leaving the US if it lost the lawsuit against the SEC. However, he expressed confidence that the company would win.
Ripple continues to expand abroad
Despite the continued optimism, Ripple continues to expand its business abroad, with Dubai being one of the company’s newest Silicon Valley destinations. The recent move comes more than two years after Ripple chose it settle the regional MENA headquarters in Dubai. The company cites the favorable regulatory environment in Dubai as the main driver for these steps.
Last November, Crypto Oasis UAE, a MENA-focused blockchain-based ecosystem, attention demanded to the growing impact of Ripple in Dubai and the MENA region.
In addition to MENA, Ripple is also targeting other regions, such as Europe. The Crypto Basic will be released in November 2022 revealed that Ripple is trying to obtain a license in Ireland as part of its plans to expand in Europe. Stuart Alderoty, Ripple’s chief legal officer, as well revealed last month that the company wants to expand its activities in England.