Dubai Government Media Spotlights Ripple as Blockchain Leader

The recent announcement from the Dubai government’s media office comes a few days after Ripple expanded to the city with a new office.

The official media office of the Government of Dubai has spotlighted Ripple as a key player and leader in enterprise blockchain and crypto solutions. This cry from the government’s media office came in response to Ripple’s latest move to expand into the city with a new office.

.@Ripplethe leader in enterprise blockchain and crypto solutions, is expanding its presence in #Dubai with a new office in the Dubai International Financial Center (@DIFC). Progressive regulations and a robust technological infrastructure have helped Dubai consolidate its status as a global… pic.twitter.com/817SjY299s

— Dubai Media Office (@DXBMediaOffice) 11 May 2023

The government office noted Dubai’s forward-looking approach regarding innovative and nascent technologies such as blockchain and cryptocurrency, as evidenced by their favorable policies around these sectors. The media office says these favorable guidelines have attracted industry leaders, including Ripple.

Remember that, as previously reported by The Crypto Basic Ripple confirmed at the Dubai FinTech Summit that the company is expanding into the city. Ripple also revealed in a press release that they had opened a new office in the Dubai International Financial Center (DIFC) as they seek to further penetrate the Middle East and North Africa (MENA) region.

Amidst the regulatory uncertainty plaguing the local US crypto industry and the protracted legal tussle with the US SEC, Garlinghouse revealed in an interview last June that Ripple may consider leaving the US if they lose the lawsuit against the SEC. However, he expressed confidence that the firm would win.

Ripple continues to expand overseas

Despite persistent optimism, Ripple continues to expand its operations overseas, with Dubai being one of the latest destinations for the Silicon Valley firm. The recent move comes over two years after Ripple opted for it establish its MENA regional headquarters in Dubai. The firm has cited the favorable regulatory climate in Dubai as the most important factor driving these moves.

Last November, Crypto Oasis UAE, a MENA-focused blockchain-based ecosystem, called attention to Ripple’s growing impact in Dubai and the MENA region.

Besides MENA, Ripple also has its sights set on other regions, such as Europe. In November 2022, The Crypto Basic revealed that Ripple is seeking to obtain a license in Ireland as part of its plans to expand in Europe. Stuart Alderoty, Ripple’s Chief Legal Officer, too revealed last month that the company wants to expand its operations in England.