- Ripple met UAE officials at the Dubai Fintech Summit to boost digital payment systems.
- UAE officials and Ripple reviewed the D33 plan to grow Dubai’s Economy via digital transformation.
- DIFC Innovation Hub now supports 1,000+ startups and tech firms driving blockchain adoption.
Ripple’s leadership continues to strengthen ties with the United Arab Emirates as the region embraces blockchain adoption and digital finance. On May 14, Ripple President Monica Long met with top UAE officials at the Dubai Fintech Summit. The discussions focused on digital payment infrastructure and speeding up financial innovation across the region. Ripple shared the news through a post on X, highlighting Dubai’s growing global role in digital assets.
Ripple opened its Dubai office in 2020. Since then, the company has expanded rapidly in the Middle East. Today, the region accounts for 20% of Ripple’s global customer base. Wednesday’s meeting further deepened Ripple’s ties in the region.
Ripple also highlighted its 2024 partnership with the Dubai International Financial Centre (DIFC). The agreement focused on blockchain adoption among startups. Ripple said the DIFC Innovation Hub now supports over 1,000 startups, labs, and tech firms.
CEO Brad Garlinghouse said the collaboration would advance XRPL adoption and position it as a leading blockchain in the region. In addition to the DIFC partnership, Ripple recently secured DFSA licensing in the UAE. The license allows Ripple to offer its Ripple Payments platform for cross-border transfers.
Ripple now has access to the UAE’s $400 billion trade corridor. The license also supports services involving Ripple’s stablecoin RLUSD. The license is a major step in expanding Ripple’s regulated presence in the region.
During the Fintech Summit, Ripple’s Monica Long also met with His Highness Sheikh Ahmed bin Saeed Al Maktoum. Other fintech leaders, including Bolt’s Justin Grooms and Kotak Bank CEO Ashok Vaswani, attended the private meetings. The leaders discussed collaborative opportunities and regional fintech development.
Ripple said the meetings confirmed its commitment to long-term partnerships in the region. UAE officials, including DIFC Governor Essa Kazim and Emirates NBD’s Hesham Abdullah Al Qasim, led the government delegation.
Related: Ripple Gives $25M in Digital Dollars to Boost U.S. Classrooms
The Dubai Economic Agenda D33 was also part of the discussions. The plan aims to make Dubai one of the top four global financial hubs by 2033. It targets AED100 billion in annual gains through digital transformation.
Ripple noted that 82% of Middle East finance leaders expect to adopt blockchain solutions. A recent survey also found that faster settlements were a key advantage. Ripple said the DFSA approval fits into its wider strategy for global licensing.
So far, the company has gained 60 approvals worldwide, including Singapore and New York. DIFC CEO Arif Amir welcomed Ripple’s efforts. He said the UAE supports blockchain leaders who promote financial innovation.
