- Ripple and the DIFC Innovation Hub partner to promote blockchain technology in the UAE.
- To improve platform stability, the XRP Ledger Testnet Reset is planned for August 19.
Ripple has been around for a while. announced The DIFC Innovation Hub is a growing innovation hub at Dubai International Financial Centre.
The collaboration aims to speed up digital assets and blockchain innovations in the UAE By linking to the next DIFC Innovation Hub to attract a generation of new developers. Collin Brown, blockchain researcher and entrepreneur, was excited by this news, saying that the UAE will soon be a leader in fintech.
🌟 Big news! Ripple’s newly formed partnership with DIFC Innovation Hub promises to boost blockchain technology in the UAE. 🚀 The 1 billion XRP commitment will lead to exciting advances and a boost in global developer’s work. 💡 UAE has become a global fintech leader! 🌐… pic.twitter.com/LuWMwKRxdk
— Collin Brown (@CollinBrownXRP) August 7, 2024
Ripple’s strategic alliance with DIFC Hub is driving UAE blockchain adoption
The Hub is the most innovative hub in the region. It includes digital labs for innovation, as well as venture capital firms and regulators.
This relationship also allows for the promotion and adoption of cryptocurrency and blockchain amongst early stage and scaled up firms as well as for the positioning and introduction of technology to traditional and significant key institutions, and their uses cases.
Brad Garlinghouse said that Brad Garlinghouse was the CEO at Ripple. “The UAE is one of the most advanced jurisdictions globally when it comes to offering regulatory clarity for licensed firms to offer virtual asset services and fostering an environment in which the next generation of financial innovation can flourish.”
Ripple Middle-East and Africa Regional Office (MEA) is located in DIFC. The DIFC has approved the use XRP in the Center by November 2023.
Since that time, DIFC licensed virtual assets enterprises have been able integrate XRP in their services. The new value created by this milestone is a result of the blockchain innovations in Dubai. Arif Amiri is the Chief executive officer of DIFC.
“Today marks another milestone in DIFC’s ongoing journey to help facilitate growth and equip the next generation of leaders with everything they need to succeed. The Ripple collaboration further cements DIFC’s role as a leading global hub for talent, technology, and innovation, as we continue to enhance our ecosystem, powered by a world-class regulatory jurisdiction, to drive the future of finance.”
CNF announced On August 19, the XRP Ledger testing network would be reset. This reset aims to improve the platform’s stability and efficiency. It will also create a more stable environment for developers. RippleX currently investigates the inclusion of Ethereum virtual machine features in XRPL.
On the contrary, we also previously reportedFedNow was promoted by the Federal Government as an alternative to the traditional government-run FedNow. “crypto killer,” The XRP ecosystem and broader crypto-ecosystem have not been impacted by this.
FedNow is not having a significant impact on the crypto market, despite the fact that it has made tremendous strides in the payment industry. At the moment, Ripple, or XRP tokens, are trading at around $0.5164Up 3.17% Over the past 24 hours.
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Source: www.crypto-news-flash.com