Ripple expands in the Middle East

Ripple expands in the Middle East

Dubai – On the back of strong growth in the Middle East, Ripple, the leader in enterprise blockchain and crypto solutions, is expanding its presence in Dubai by opening a new office location in the heart of Dubai International Financial Centre (DIFC) and bringing Swell Global 2023, the seventh edition of its annual customer conference, to Dubai on November 8-9.

Ripple has long focused on serving customers around the world with over 90% of the company’s business outside the US. The Middle East and North Africa (MENA) region is a key market for the company, with around 20% of all RippleNet customers, such as SABB, Qatar National Bank, Lulu Financial Holdings, Al-Ansari Exchange, and RAK Bank, based here. Over half of Ripple’s MENA payment volume consists of cross-border payments such as remittances from the UAE, Bahrain and Saudi Arabia to India. In 2020, the company chose the DIFC as the location for its MENA headquarters due to Dubai’s innovation-forward regulations, expansive network and reputation as a leading global financial centre.

“We chose Dubai as both a key office for Ripple, and to bring Swell Global to the city, in large part due to its forward-thinking regulatory environment. Regulators here have risen to