Ripple Labs, with a delegation led by President Monica Long, met today with officials from the United Arab Emirates (UAE) as part of the Dubai Fintech Summit.
During the meeting, discussions were held on digital payment infrastructure and accelerating financial innovations.
"We remain impressed by Dubai's leadership as it becomes one of the world’s leading centers for digital assets," the company stated in a post on the social media platform X (formerly Twitter).
Ripple expanded its presence in the region by opening an office in Dubai in 2020, and to date, the Middle East region has begun to account for 20% of its global client base.
Last year, Ripple announced an important partnership with the Dubai International Financial Center (DIFC). The collaboration with the innovative DIFC hub was particularly notable. Currently, the platform hosts over 1000 growth-stage tech companies, innovation-focused startups, digital labs, venture funds, regulators, and educational institutions.
"The partnership between Ripple and the DIFC Innovation Hub will serve as a foundation for driving the adoption of blockchain and cryptocurrencies among early-stage companies," said Ripple CEO Brad Garlinghouse in his statement. The collaboration "will enable broader adoption of XRPL as the leading blockchain in the region."
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