Summary
- Ripple said it opened a Middle East and Africa regional headquarters at the Dubai International Financial Centre as it moves to expand its UAE business.
- The company said the new regional headquarters nearly doubles the size of its existing MEA office established in 2020.
- Ripple said the Middle East is driving its global growth and that demand for regulated blockchain-based payments infrastructure continues to increase.
Ripple, the issuer of XRP, has opened a regional headquarters in Dubai as it expands its business in the United Arab Emirates.
Ripple said on its website on April 30 that it had opened its Middle East and Africa headquarters at the Dubai International Financial Centre. The facility nearly doubles the size of the company's existing MEA office, which it first established in 2020.
The company said the Middle East now makes up a substantial portion of its global customer base. It said the new regional headquarters reflects that growth.
Ripple plans to use the DIFC office as a base to accelerate its expansion in the Middle East, including the UAE. Reece Merrick, Ripple's managing director for the Middle East and Africa, said the region has become a key driver of the company's global growth in recent years. Demand from local businesses for regulated blockchain-based payments infrastructure continues to increase, he added.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
