• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Ripple aims to develop the crypto ecosystem in the Middle East and Africa

user avatar

by Giorgi Kostiuk

a year ago

Ripple is establishing itself in the Middle East and Africa, directing efforts towards the development of the cryptocurrency ecosystem.

Understanding Progressive Regulations

Ripple's managing director for the Middle East and Africa, Reece Merrick, acknowledges that the United Arab Emirates (UAE) foster blockchain innovation through progressive regulations. "The future of finance is being built here," he said.

Focus on Stablecoins

Last year, the UAE Central Bank regulated the use of stablecoins, allowing payments using dirham-pegged tokens. Merrick noted, "Stablecoins are cutting costs & speeding up transfers—bringing the Middle East, South Asia, & Africa together like never before."

Strengthening Regional Presence

Ripple has a strong presence in the MENA region, having secured partnerships with banking institutions in the UAE, Kuwait, and Saudi Arabia. In 2020, the National Bank of Fujairah (NBF) joined the RippleNet network. Amid the SEC lawsuit, the company considered moving its headquarters to the UAE but remained in San Francisco.

Ripple continues to expand its presence and capabilities in the region, offering advanced solutions in cryptocurrency and blockchain.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

KindlyMD Secures $210 Million USDT Loan from Kraken Operator

chest

KindlyMD has secured a monumental loan of 210 million USDT from Payward Interactive, the operator of the Kraken exchange.

user avatarMohamed Farouk

Jeff Yan Defends Hyperliquid's ADL Mechanism Amid Allegations

chest

Jeff Yan, cofounder of Hyperliquid, defends the Automatic Liquidation (ADL) mechanism against allegations of unfairly impacting Hyperliquidity Providers, emphasizing its symmetrical treatment of users and providers.

user avatarElias Mukuru

Implications of Bithumb's Warning for Crypto Investors

chest

Bithumb's investment warning for DICE highlights the importance of transparency and due diligence in cryptocurrency investments.

user avatarDiego Alvarez

Bithumb Issues Investment Warning for DICE Token

chest

Bithumb has issued a significant investment warning for the Klaydice DICE token due to a breach of trust regarding critical disclosures.

user avatarKenji Takahashi

CFTC Launches Pilot Program for Tokenized Collateral in Derivatives

chest

The US Commodity Futures Trading Commission has launched a pilot program allowing Ethereum, USDC, and Bitcoin as collateral in regulated derivatives to observe their behavior under stressed conditions.

user avatarMaria Fernandez

Investors Urged to Reassess Strategies Amid Bitcoin Volatility

chest

Investors are encouraged to review their portfolios and consider dollar-cost averaging in light of Bitcoin's recent price drop.

user avatarGustavo Mendoza

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.