• 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

Democrats Raise Alarm Over DOL's Crypto Investment Proposal for 401k Plans

chest

Democratic lawmakers raise concerns over a DOL proposal allowing 401k investments in cryptocurrencies, warning it could risk $142 trillion in retirement savings.

user avatarTenzin Dorje

BNB Chain Positioned for Growth Post-CLARITY Act

chest

Grayscale's Head of Research identifies BNB Chain as a leading ecosystem poised to capture institutional flows following the anticipated CLARITY Act.

user avatarElias Mukuru

VanEck Launches First US Spot ETF for BNB

chest

VanEck has launched the first US exchange-traded fund (ETF) providing spot exposure to BNB, marking a significant milestone for the BNB Chain ecosystem.

user avatarBayarjavkhlan Ganbaatar

Spot ETFs and Institutional Investments Influence Bitcoin Market Dynamics

chest

The growing influence of Spot ETFs and institutional investment vehicles is reshaping Bitcoin's market dynamics and participation levels.

user avatarMohamed Farouk

Potential Recovery Signals for Ethereum Against Bitcoin

chest

Ethereum shows signs of potential recovery against Bitcoin, with the ETHBTC pair reaching a support zone that may lead to increased inflows.

user avatarDiego Alvarez

Ethereum Faces Significant Decline Against Bitcoin

chest

Ethereum has experienced a notable drop against Bitcoin, marking 14 consecutive lower closes.

user avatarKenji Takahashi

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.