Just In: Ripple CEO Announces Expansion to Dubai

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The post Just In: Ripple CEO Announces Expansion to Dubai appeared first on Coinpedia Fintech News

Dubai Fintech Summit drew top financial minds to shape the future of FinTech and finance. It brought together global industry leaders, policymakers, and decision-makers to develop essential tools, regulations, and frameworks.

The CEO of Ripple, Brad Garlinghouse made a significant announcement at the summit that could transform the world of finance. Keep reading to learn more.

Ripple CEO Reveals New Key Expansion

Brad Garlinghouse, CEO of Ripple, shared his recent announcement at the Dubai Fintech Summit on Twitter. He announced that Ripple would be expanding to Dubai, citing the region’s clear regulatory regime and emerging status as a key global financial hub for crypto innovation. Garlinghouse noted that 20% of Ripple’s customers are based in the MENA region, making the move to Dubai a strategic one.

As I just shared on stage at #DubaiFintechSummit, @Ripple is expanding in Dubai. With 20% of our customers based in MENA and clear regulatory regimes being developed, it’s no surprise that Dubai is emerging as a key global financial hub for crypto innovation to thrive. pic.twitter.com/9lWEtYECq7

— Brad Garlinghouse (@bgarlinghouse) May 8, 2023

This announcement comes after Garlinghouse advised entrepreneurs in a fireside chat to avoid starting their ventures in the United States due to the current regulatory climate. He unfavorably compared the US regulatory progress to the regulatory progress made by the United Arab Emirates virtual asset regulatory authority and the recent Markets in Crypto-Assets (MICA) bill in the European Union.

Could Ripple’s expansion to Dubai due to favorable crypto regulations signal a trend of companies shifting away from the US?

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