Aug 7, 2024
6thTrade
Ripple has announced a partnership with the DIFC Innovation Hub in Dubai to drive blockchain innovation in the UAE. This collaboration aims to support over 1,000 tech firms, digital labs, venture capital firms, and other key players within the sector housed in the Innovation Hub.
The partnership primarily focuses on early-stage companies integrating blockchain and cryptocurrency into their operations. Additionally, it aims to assist large traditional organizations in adopting these advanced technologies.
Together, we're driving blockchain adoption among startups & scale-ups, shaping the future of finance on the #XRPLedger. https://t.co/fNaIXoJVL0— RippleX (@RippleXDev) August 7, 2024
RippleX, the development arm of Ripple, tweeted about the collaboration, emphasizing its goal to accelerate blockchain adoption among startups and scale-ups, and to shape the future of finance on the XRPLedger.
This initiative with DIFC follows Ripple's previous efforts, including its 2021 pledge to invest 1 billion XRP in developing and utilizing the XRPL globally. This investment aimed to provide developers with the necessary financial, technical, and business support to succeed. So far, Ripple has supported over 160 teams in 47 countries.
The partnership is a win-win for both parties. For Dubai, which recently hosted the Ripple Swell conference, the DIFC has approved the use of XRP since November 2023, allowing licensed virtual asset firms registered with the center to include XRP in their services.
Overall, this collaboration is expected to bolster the UAE's position as a global fintech hub and further embed Ripple in one of the world's major financial centers. Meanwhile, XRP will gain increased recognition and open new corridors for adoption.
