Ripple, a digital cross-border payments company, has established regional headquarters in the Dubai International Financial Centre (DIFC).
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According to an official announcement, Ripple has decided to open a new HQ in DIFC for its regulations, expansive network and reputation as a leading global financial centre.
Arif Amiri, DIFC Authority CEO, says that together with Ripple, DIFC will expand the use of the blockchain technology in Dubai, UAE and the region in 2021.
"Ripple is one of the most exciting client additions to DIFC this year," Amiri added.
Ripple's decision to open a new branch outside the US comes after the fintech firm announced it might leave the United States overseas in response to excessive regulation.
Ripple's Executive Chairman Chris Larsen claims the company is "increasingly frustrated" over a hostile attitude to the crypto market from the federal government, including the Securities and Exchange Commission (SEC).
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