Representatives of Ripple, the developer of the XRP cryptocurrency, led by Monica Long, the company's president, met with officials from the United Arab Emirates during the Dubai Fintech Summit and discussed the infrastructure for digital payments and accelerating financial innovation.
Monica Long, President of Ripple, said: "We are still impressed by the leadership shown by Dubai as it establishes itself as one of the leading global digital asset hubs."
Ripple opened its office in Dubai in 2020, and since then, it has expanded its regional presence, now accounting for 20% of its global customer base in the Middle East, and now, the partnership continues to grow, as evidenced by Wednesday's in-person meeting.
Last year, Ripple announced a major partnership with the Dubai International Financial Centre (DIFC) in the UAE.
The company revealed its collaboration with the center's innovation hub, which serves as a "hope for over 1000 growth-stage tech companies, innovation firms, digital labs, venture capital firms, regulatory bodies, and educational institutions."
The statement mentioned that "the partnership between Ripple and the Innovation Center at the Dubai International Financial Centre will provide the necessary means to enhance the adoption of blockchain technology and cryptocurrencies among startups."
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