Dubai to Become New Regional Headquarters for Ripple

Dubai to Become New Regional Headquarters for Ripple

Ripple, the blockchain solution provider based in San Francisco, just announced that it will establish its regional headquarters in the Dubai International Financial Center (DIFC), a special economic zone.

Recently, the CEO of Ripple, Brad Garlinghouse, had been saying that his firm needs to move away from its San Francisco based headquarters to a location where the clarity on cryptocurrency and blockchain technology is more transparent.

The company revealed in an official statement that it has chosen the DIFC center because it possess an innovative regulatory structure and has a reputation as one of the world’s leading global financial hubs, and probably holds the top spot in that regard in the Middles East, South Asia, and Africa.

The DIFC flattered Ripple, stating that, “Ripple is one of the most exciting client additions to DIFC this year. They are well regarded globally for innovation in the finance industry and therefore is a perfect partner and client for DIFC, given our vision to drive the future of finance.”.

The DIFC was established in 2014 as an independent zone, offering 100 percent of the ownership of a company without the need of local partners. Furthermore, the zone has its very own judicial system and legal framework that is distinct from the one in the United Arab Emirates.

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