Ripple recently announced plans to collaborate with the DIFC Innovation Hub, a rapidly growing innovation environment in the Dubai International Financial Centre (DIFC). This collaboration aims to accelerate digital asset and blockchain innovation in the UAE by connecting the next generation of developers to the DIFC Innovation Hub.
The Hub is the region’s largest innovation hub, encompassing innovative enterprises, digital labs, venture capital firms, regulators, and educational institutions. Additionally, this relationship will drive blockchain and cryptocurrency adoption among startups and large companies, as well as the adoption and positioning of the technology among traditional, established key institutions and their use cases.
Ripple CEO Brad GARLINGHOUSE noted that the UAE is one of the most advanced jurisdictions in the world when it comes to providing regulatory clarity for licensed firms offering virtual asset services and creating an environment where the next generation of financial innovation can thrive. Ripple’s regional office for the Middle East and Africa (MEA) is located in the DIFC. In November 2023, the DIFC approved the use of XRP in the Centre. Since then, licensed virtual asset businesses in the DIFC have been able to integrate XRP into their virtual asset services.
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