- Ripple has secured a major partnership with the Dubai International Financial Centre (DIFC) Innovation Hub, aiming to enhance blockchain adoption in the region
- Despite ongoing legal issues with the SEC in the U.S., Ripple’s strategic move to Dubai highlights its focus on global expansion and growing crypto hubs
- Ripple is also exploring the creation of a new foundation to support the XRPL ecosystem, signaling further advancements and community support
Ripple expands to Dubai with a new strategic partnership with the Dubai International Financial Centre (DIFC). This move marks another step for Ripple towards internationalization, despite uncertainties related to the legal case with the SEC in the United States.
The agreement aims to boost the adoption of blockchain technology in the Emirates region.
Ripple Expands to Dubai: Here’s How
While uncertainties related to the legal case against the SEC in the USA persist, Ripple is seeking expansion elsewhere. The company has announced an important partnership in the Emirates, with an agreement signed today with the Dubai International Financial Centre. This is another attempt by the group to expand into internationally significant locations that have long had an affinity with crypto.
For now, the $XRP token has not responded to the news, within a relatively positive day for the sector, while traditional markets seek and achieve recovery. The agreement is within an economic zone strongly oriented towards the crypto world and that has long aimed to become an international hub for the sector.
Ripple Tries to Expand to Dubai
Ripple is giving it another shot. While in the USA the timing for the end of the SEC trial is stretching out, Ripple Labs is seeking expansion in very important territories. This time it’s the Emirates, where Ripple has signed an important partnership with the DIFC Innovation Hub, which already hosts various startups and also more established companies.
The companies included in the DFIC and that are already in growth stage number over 1,000, representing a significant penetration factor for Ripple, in a hub of great relevance.
“Our agreement with the DIFC Innovation Hub promises to drive blockchain technology adoption in the region.” Brad Garlinghouse, CEO of Ripple Labs
Is a Foundation Also Being Created?
There’s more happening within Ripple’s world, such as discussions about the creation of a Foundation that will, as David Schwartz, Ripple’s CTO, reminds us, push both the community around Ripple and all technologies in the XRPL space. This comes shortly after the previous Foundation’s transition into the Inclusive Financial Technology Foundation, which deals with more technologies than Ripple strictly speaking.
There will be several developments regarding Ripple that should help the ecosystem to spread in significant places, at least for the development of blockchain and crypto technologies.
An important step forward within the Ripple world, while we are still evaluating the impact of the SEC case, which many (mistakenly) expected to end in July. This case, however, as we have already written, is unlikely to have a decisive impact, for better or for worse, on either the token or the potential network expansion.
However, the expansion signal away from the USA, a territory that has become quite hostile since the beginning of the SEC case, is a good sign.
Conclusion
With the new alliance with the DIFC Innovation Hub and the possible creation of a foundation to support the XRPL ecosystem, Ripple shows a continuous commitment to global growth. While legal uncertainty persists in the United States, expansion into Dubai represents a positive signal for the company’s future and for blockchain technology on an international level.
