The post XRP News: Why Did Ripple’s President Meet With UAE Officials? appeared first on Coinpedia Fintech News
Ripple President Monica Long recently met with UAE officials at the Dubai Fintech Summit. With big plans to boost blockchain and fintech, this move puts Ripple—and the region—right at the center of the digital finance revolution.
Emirates CEO Sheikh Ahmed bin Saeed Al Maktoum met with leaders from Kotak Mahindra, Ripple, and Bolt at the event, exploring ways to discuss collaboration and innovation in the fast-growing fintech space. There were over 9,000 attendees, including CEO’s, investors, policymakers, and innovators from more than 120 countries.
Dubai’s D33 Plan: Growing into a Top Financial Hub
The meeting centered around Dubai’s D33 plan to become a top 4 global financial hub, targeting AED100 billion in yearly digital revenue by 2033. The role of DIFC was also discussed as a key gateway for global financial institutions, and the strategies of leading institutions like Kotak Mahindra Bank’s push for digital expansion were also touched upon.
With a fresh DFSA license, Ripple is now set to power cross-border payments in the UAE, tapping into a $400 billion market. Ripple is already serving 20% of its customer base from the Middle east.
Ripple continues to solidify its presence in the UAE by building strong partnerships for the future. Last year, Ripple made a big collaboration with the UAE’s International Financial Center (DIFC) in 2024. Ripple believes that this partnership will speed up blockchain and crypto adoption among startups. CEO Brad Garlinghouse has also called XRPL the region’s top blockchain tech.
UAE’s Growing Role in Global Innovation
Ripple has secured over 60 global approvals, including from major regulators like Singapore’s MAS and New York’s DFS. DIFC CEO Arif Amir praised the UAE’s role in supporting innovators like Ripple, as it works to connect East and West in the fintech space.
As per a report from Reuters, the UAE has signed a massive 10-year $1.4 trillion investment deal with the US, which will substantially increase the UAE’s existing investments in the U.S. economy.