The Dubai government’s media arm has recognized Ripple as the industry standard for enterprise blockchain
The Dubai government’s official media office has named Ripple the go-to supplier of business blockchain and cryptocurrency solutions. This honor follows Ripple’s opening of a new office in the heart of the city.
The media office of Dubai’s government reaffirmed the city’s progressive stance on emerging technologies like blockchain and cryptocurrency, saying that the city’s proactive policies have attracted industry pioneers like Ripple and established it as a global hub of technological innovation.
CEO Brad Garlinghouse has recently predicted a turning moment in Ripple’s legal struggle against the U.S. Securities and Exchange Commission (SEC), as reported by CryptoGlobe.
A thorough briefing has been provided to the American judge. She must make a choice. A federal judge may work at her own pace, but I’m hopeful that we’ll have a resolution before the end of the third quarter,” he said.
The current acclaim comes more than two years after Ripple established its regional headquarters for the MENA area in Dubai, citing the city’s hospitable regulatory climate as a crucial reason for the company’s decision to locate there.
The business reported $361.06M in XRP sales for the first quarter of the year, up from $226.31M in the previous quarter, in its most recent quarterly XRP Markets Report, which was published last month. Since 2020, when demand for Ripple’s ODL service began to outpace supply, the company has been actively procuring XRP from the open market.
Meanwhile, on the XRP Ledger, on-chain activity was rapid, with 116M transactions, a 9 percent rise from the previous quarter. Moreover, a million assets have been generated on the Ledger since the debut of XLS-20 on mainnet, with NFTs serving as a primary catalyst for this growth.
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