Ripple Collaborates with Major Fintech Accelerator in MEASA Region

Ripple Labs has teamed up with the DIFC Innovation Hub, a part of the Dubai International Financial Centre, to boost the adoption and advancement of blockchain technology and digital assets across the UAE and potentially throughout the Middle East, Africa, and South Asia (MEASA) region.

Partnership Between Ripple and DIFC Innovation Hub

Brad Garlinghouse, CEO of Ripple, voiced his excitement about the partnership’s potential impact, emphasizing the UAE’s clarity in regulations for firms providing virtual asset services as a key factor in fostering financial innovation in the region.

Ripple Collaborates With Major Fintech Accelerator In Measa Region

Ripple has allocated one billion XRP tokens to support the development of new global applications on the XRP Ledger (XRPL), aiding over 160 teams worldwide in creating diverse applications from decentralized finance (DeFi) to Real World Assets (RWA).

The CEO of DIFC, Arif Amiri, highlighted the strategic importance of this collaboration in enhancing the region’s financial technology landscape and nurturing talent and innovation to drive growth.

The Ripple MEA regional office, based in the DIFC, has achieved significant milestones, including DIFC’s approval of XRP for use within the Centre, enabling licensed virtual asset firms to incorporate XRP into their services.

Mohammad Alblooshi, CEO of the DIFC Innovation Hub, emphasized the partnership’s benefits for the FinTech and Innovation community, ensuring the necessary support for innovative developments in blockchain and cryptocurrency sectors to materialize.

Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, highlighted the collaborative potential in fostering innovation in the UAE’s fintech landscape, enabling regional talent to create cutting-edge financial solutions on the XRP Ledger.

Currently, XRP is trading at $0.5167.

Bitrabo Editorial
Bitrabo Editorial
Editorial Team

The Bitrabo Editorial team is the collective voice behind Bitrabo’s trusted crypto coverage. From breaking news and market updates to in-depth research and guides, this account represents the combined efforts of our writers, analysts, and editors. Every article published under Bitrabo Editorial is fact-checked, curated, and written to inform, empower, and guide our growing global audience through the world of Web3, blockchain, and digital finance. When you see Bitrabo Editorial, you’re reading insights directly from the heart of our newsroom.