Sirlibz
Ripple, a blockchain-based payment system firm in charge of XRP, third most popular coin in the whole crypto world has announced that they are opening up a regional office in the Dubai International Financial Centre (DIFC). Ripple says the move is good and that they chose the location because of its believed “innovative regulations”.
“Ripple already has a significant client base in the MENA [Middle East and North Africa] region and the opportunity to co-locate with our customers made DIFC a natural choice,” said Navin Gupta, a managing director at Ripple. “Our regional office will serve as a springboard to introduce our blockchain based solutions and deepen our ties with even more financial institutions in the region.”
The DIFC special economic zone houses more than 2,500 companies across Middle East, Africa, and South Asia is an “independent regulator” with a proven judicial system.
Company’s executives plan on moving the company’s headquarters in San Francisco to a country with greater regulatory clarity than that of the United States. Ripples plans on moving the headquarters to possibly Japan and Singapore as new potential locations for it’s new HQ.
The DIFC offers blockchain firms like Ripple no taxes on corporate income and profits for at least 50 year. The DIFC is based in Dubai, a multi commodities centre -the largest free zone in UAE.
Volatility increases for XRP
The whole crypto world has seen lots of volatility in the market, some crypto assets that were thought would not do well or increase. XRP on it’s own has seen great volatility and a market report dated back to November 5, XRPs volatility was high, even as high as surprising BTC and ETH. This represents an increase in volatility from Q1 and Q3.
XRP is a digital asset built for payments. It is the native digital asset on the XRP Ledger—an open-source, permissionless and decentralized blockchain technology that can settle transactions in 3-5 seconds.
XRP can be sent directly without needing a central intermediary, making it a convenient instrument in bridging two different currencies quickly and efficiently.
