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Ripple has unveiled its plan to partner with the Dubai International Financial Centre (DIFC) Innovation Hub to promote blockchain and crypto adoption in the UAE. The collaboration seeks to encourage innovation among early-stage companies and large institutions. Ripple has dedicated one billion XRP to provide financial, technical, and business support to developers on the XRP Ledger (XRPL).
Ripple and DIFC Join Forces to Accelerate Blockchain Innovation in UAER
Ripple announced on Wednesday its plan to partner with the Dubai International Financial Centre (DIFC) Innovation Hub to “accelerate blockchain and digital assets innovation in the UAE.” This strategic collaboration with DIFC aims to foster blockchain and digital asset innovation across the United Arab Emirates (UAE).
The partnership will link emerging developers with the DIFC Innovation Hub, home to over 1,000 growth-stage tech firms, innovation companies, digital labs, venture capital firms, regulators, and educational entities. The announcement states:
The partnership between Ripple and the DIFC Innovation Hub will provide the means to drive blockchain and crypto adoption amongst early-stage companies and scale-ups as well as to introduce and position the technology with traditional large strategic institutions and their use cases.
Arif Amiri, CEO of DIFC, emphasized the collaboration’s role in solidifying DIFC’s position as a global leader in talent, technology, and innovation, driving the future of finance.
Brad Garlinghouse, Ripple’s CEO, highlighted the UAE’s regulatory clarity and its conducive environment for financial innovation, stating: “Our partnership with the DIFC Innovation Hub promises to drive the adoption of blockchain technology in the region.” Ripple has committed one billion XRP to support developers on the XRP Ledger (XRPL) financially, technically, and in business aspects.