Ripple Meets UAE Leaders to Advance Blockchain Payment Solutions
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Following DFSA approval in March, Ripple is preparing to enhance cross-border payments along a $400 billion route in the UAE, leveraging its strong customer base in the Middle East. The company views its high-level engagements as pivotal for expanding its influence in the region’s rapidly growing digital economy. Monica Long, President of Ripple, met with significant government and tech officials during the Dubai Fintech Summit to better align the company’s goals with the Emirati government’s digital finance ambitions. Ripple President Meets UAE Authorities As part of her visit, Long convened with His Highness Sheikh Ahmed bin Saeed Al Maktoum, who is important in shaping the Emirates’ economy. It formed part of a wider discussion between Ripple, Kotak Mahindra Bank, and Bolt, designed to promote innovation and teamwork in the fintech industry. Representing 9,000 delegates at the conference were CEOs, investors, regulators, and digital finance innovators from more than 120 different countries. The sessions fell in line with Dubai’s D33 plan to raise its ranking to one of the top four global financial centers by 2033. At the heart of this plan is a goal to reach AED 100 billion in annual digital economy sales. DIFC’s participation ensured that the summit pushed forward its reputation as a link between financial companies around the world. Moreover, it’s important to note that the UAE just made a 10-year $1.4 trillion investment deal with the U.S., making it a leader in global economic advancement. Meanwhile, after the March approval by the DFSA, Ripple is readying itself to make cross-border payments in the UAE easier by using its technology on a $400 billion route. The majority of Ripple’s customers outside North America are from the Middle East. Furthermore, the company pointed out in its official statement that the latest interaction at the highest level is…
Filed under: News - @ May 16, 2025 6:25 am