News

Ripple sets up regional office in Dubai amid talks of headquarters relocation

Nicholas Say

Nov 9, 2020 — 1 min read

Ripple is looking to expand its business around the world and the firm has selected the Dubai International Financial Center (DIFC) as the new regional headquarters. This move came amid talks of Ripple headquarters relocation in late October. For further details, the $10 billion fintech company was planning to move its head office beyond the US border due to ambiguous regulatory concerns. A few shortlisted countries that could be Ripple's new home include London, Singapore, Switzerland or Japan. For the moment, Ripple's new regional office is in Dubai.

Navin Gupta, Managing Director for South Asia and MENA at Ripple pointed out that Ripple’s goal is to drive industry growth for the Middle East and Asia region by partnering with local and regional businesses.

He said,

“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.”

While Dubai appears to be Ripple's new regional hub, the future of its global headquarters remain undecided. The firm intends to relocate its headquarters to a country whose regulators do not regard XRP as a security, to avoid future legal problems, according to CEO Garlinghouse’s statement in an CNBC interview last month.

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