Ripple President Monica Long meets with UAE officials at Dubai Fintech Summit

By: bitcoin ethereum news|2025/05/15 07:00:14

Ripple President Monica Long met with UAE officials today at the Dubai Fintech Summit. The two discussed the digital payment system infrastructure and accelerating financial innovation within the region. The event connected over 9000 attendees, including CEOs, fintech pioneers, investors, policymakers, and innovators from more than 120 countries. The meeting aimed to explore collaboration opportunities in the expanding digital payment infrastructure. Sheihk Ahmed bin Saeed meets global fintech leaders The event’s key pillar was His Highness Sheikh Ahmed bin Saeed Al Maktoum, CEO of Emirates Airlines. He met on the sidelines with Ashok Vaswani, M.D. and CEO of Kotak Mahindra Bank, Monica Long, President of Ripple, and Justin Grooms, President of Bolt. The leaders discussed possible opportunities for their collaboration in the growing fintech industry and ways to speed up innovation across the digital financial ecosystem. BREAKING: RIPPLE HELD TALKS WITH UAE OFFICIALS TO EXPLORE DIGITAL PAYMENT INFRASTRUCTURE AND BOOST FINANCIAL INNOVATION. pic.twitter.com/kvCm3vpACd — Loki (@lokinagi333) May 14, 2025 Ripple stated that they continue to be impressed by the leadership demonstrated in Dubai as it establishes itself as one of the world’s hubs for digital assets. The Fintech company opened its offices in the country in 2020 and has grown its regional footprint. Ripple revealed that 20% of its global customer base resides in the Middle East. Ripple said Wednesday’s in-person meeting with Sheik continues to solidify its presence in the country by creating future-proof partnerships. The company announced a major collaboration with the UAE’s International Financial Center (DIFC) in 2024. According to the firm, the Dubai platform provides hope for more than 1,000 startups, innovation companies, digital labs, venture capital firms, regulators, and educational entities. Ripple believes its partnership with DIFC will accelerate blockchain and crypto adoption among startups. Brad Garlinghouse, Ripple CEO, argued that the collaboration with DIFC will drive blockchain adoption as XRPL continues to be the leading blockchain technology in the region. Ripple recently received its first DFSA licensing for blockchain payments in the UAE region. The license allows Ripple to provide cross-border payments across the region. The licensing opened access to a $400 billion market and regulated cross-border services. UAE officials discuss D33 Agenda at the Dubai Fintech Summit 2025 The meeting was attended by His Excellency Essa Kazim, Governor of Dubai International Financial Center (DIFC), Hesham Abdullah Al Qasim, Vice Chair and Managing Director of Emirates NBD Group, and Arif Amir, CEO of DIFC Authority. Discussions at that meeting included the Dubai Economic Agenda D33 , which aims to position Dubai among the top four global financial centers and generate AED100 billion yearly through digital transformation by 2033. Highlights of the influential role of DIFC were discussed as a strategic gateway for global financial institutions. Among other discussions, they reviewed the core strategies of leading institutions like Kotak Mahindra Bank’s plan to open its global digital banking system. According to a study conducted by Ripple in 2024, 64% of finance leaders in the Middle East see the primary advantage of blockchain-based payments as faster settlements. 82% of the leaders showed confidence in integrating blockchain solutions into their business. DFSA approval in the UAE is part of Ripple’s broader strategy to pursue approvals in other regions. The company has set plans through various jurisdictional initiatives to secure a global compliance framework. Ripple has secured 60 approvals globally, including the Monetary Authority of Singapore, the New York Department of Financial Services, and the Central Bank of Ireland. Arif Amir, CEO of DIFC, commented that the UAE is proud, just as the Middle East, Africa, and South Asia’s global financial centers support forward-thinking companies like Ripple. UAE leaders believe key economic hubs have supported the distributed ledger technology, speeding up financial innovation and inspiring regional technological advancement. DIFC plans to continue fostering innovation in the financial sector, a key driver in strengthening Dubai’s position as an anchor between East and West. Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now Source: https://www.cryptopolitan.com/ripple-meets-with-uae-officials/

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