Dubai International Financial Centre (DIFC) announced that Ripple, the enterprise blockchain solution for global payments, has established its regional headquarters there.
Ripple reportedly chose DIFC for its “innovative regulations, expansive network and reputation as a leading global financial center”.
Cointelegraph previously reported that Ripple initially had shortlisted Japan and Singapore as potential locations for its new offices, citing SBI Holdings CEO Yoshitaka Kitao as the source.
DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework, as well as the region’s largest financial ecosystem of more than 25,000 professionals working across over 2,500 active registered companies – making up a large and diverse pool of industry talent in the region.
Arif Amiri, Chief Executive Officer of DIFC Authority said:
“During this post-pandemic recovery period, we