🪙 XRP: Mom, I'm in Dubai! 😎
A major player in the field of cryptocurrencies Ripple has announced its expansion into the Dubai market. CEO Brad Garlinghouse announced this at the Dubai Fintech Summit.
Garlinghouse noted that the decision is due to the large number of consumers in the Middle East and the development of regulation. He said that "Dubai is becoming an important financial hub for the development of crypto innovation." Ripple is involved in a two-year lawsuit with the U.S. Securities and Exchange Commission (SEC), which concerns the definition of digital assets.
Nevertheless, the company continues to develop and is now preparing for expansion to Dubai. Garlinghouse noted that regulatory clarity and a growing user base in the country have become decisive factors. Ripple has already spent more than $200 million on litigation with the SEC, which confirms the importance of regulation in this industry.