Ripple to open office in Dubai by EoY 2018, has signed 200 financial institutions, reveals executive

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31 أكتوبر 2018آخر تحديث : منذ 4 سنوات
Ripple to open office in Dubai by EoY 2018, has signed 200 financial institutions, reveals executive

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Dilip Rao, Ripple’s Global Head of Infrastructure Innovation, recently appeared at a conference in Dubai to speak about Ripple’s plans to enter the Middle East. He also spoke about the existence of XRP and Ripple’s other products within the regulatory environment of the area.

Rao revealed that Ripple was going to be setting up an office in Dubai “before the end of the year”, and provided an introduction to the Internet of Value. He also spoke about Ripple’s goals in the Middle East, stating:

He confirmed that Ripple has signed up close to 200 institutions “around the world” with “many of them” from the Middle East. Calling it the “fastest growing marketplace”, Rao revealed that Ripple’s clients included the largest Islamic bank in Saudi Arabia known as Al-Rajhi, and Kuwait Finance House. He elaborated:

Moreover, he revealed how this “hurts” blue-collar workers who are sending money to their families, as fees can be “as high as 5-10%”. This led to him speaking about how solving this problem allows Ripple to “build the basis for a digital economy”. He went on to say:

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