DIFC, Ripple to Accelerate Blockchain technology Adoption

Photo : Dubai Government Media Office

Ripple, a prominent player in blockchain and cryptocurrency solutions, has unveiled a strategic partnership with DIFC Innovation Hub, a key component of the Dubai International Financial Centre (DIFC). This collaboration aims to expedite blockchain and digital asset innovation within the UAE.

The partnership is set to forge a connection between emerging developers and the DIFC Innovation Hub, which stands as the largest innovation ecosystem in the region. This hub is home to over 1,000 growth-stage tech firms, innovation companies, digital labs, venture capital entities, regulatory bodies, and educational institutions.

Through this alliance, Ripple and DIFC Innovation Hub seek to foster the adoption of blockchain and cryptocurrency technologies among early-stage startups and scale-ups. Additionally, the partnership aims to integrate and showcase these technologies within traditional large strategic institutions, highlighting their practical use cases.

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Arif Amiri, CEO of DIFC Authority, emphasized the significance of the collaboration, stating, "The Ripple partnership strengthens DIFC's position as a premier global hub for talent, technology, and innovation. We are committed to enhancing our ecosystem with a top-tier regulatory framework to shape the future of finance."

Brad Garlinghouse, CEO of Ripple, underscored the UAE's leading role in the global landscape of virtual asset services. "The UAE stands out for its regulatory clarity and supportive environment for virtual asset firms, making it an ideal location for the next wave of financial innovation to thrive," Garlinghouse noted.

Aug. 8, 2024 2:09 p.m. 579

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