Ripple is Ready to Expand in Dubai, CEO Says
Ripple CEO Brad Garlinghouse praised the effectiveness of the United Arab Emirates’ strategy in promoting the development of digital currency-based businesses.
The city of Dubai, in particular, has become a popular destination for blockchain startups.
In September, Garlinghouse encouraged crypto companies to move their operations from the United States to the Middle East, where they can benefit from favorable conditions and support from local authorities.
The Dubai Financial Services Authority (DFSA) has officially recognized XRP as a virtual asset that can be utilized within the Dubai International Financial Center (DIFC).
This means that XRP can now be used alongside other major cryptocurrencies such as Bitcoin (BTC), Ether (ETH), and Litecoin (LTC) in the metropolitan area. Furthermore, the Dubai government has approved the use of XRP as an alternative currency for regional and cross-border payments.
