Ripple to set up regional headquarters at Dubai International Financial Center

Ripple announces the creation of a regional division for the Middle East and North Africa (MENA) at the Dubai International Financial Center (DIFC).

As reported by Emirate News Agency, Ripple's new MENA headquarters will be located at the International The financial center of Dubai (DIFC), where they work more 2 400 companies, and which has an independent judicial system and regulatory framework. Ripple Managing Director for South Asia and Mena Navin Gupta countries (Navin Gupta) said:

“Ripple already has a significant client base in Mena countries, And the ability to cooperate with our clients made DIFC an ideal place for headquarters. Our regional office will serve as a starting point for introducing solutions based on blockchain and deepening our ties with an even larger number of financial institutions in the region ”.

Recall, that in October Ripple General Brad Garlinghaus (Brad Garlinghouse) stated, that the company can leave the United States in connection with the unfavorable regulatory situation. According to him, Ripple can be relocated from the United States to the UK due to more clear regulation of the cryptocurrency industry in this jurisdiction.

The International Financial Center of Dubai has long been working on the introduction of new technologies to attract a larger number of fintech companies in the region. In March, DIFC and Mashreq Bank announced the launch of a new data exchange platform, as well as the identification of companies and corporations on the blockchain.