Altcoin Ripple (XRP) remains a favorite among institutional investors despite its legal battle with the SEC. Of course, there are some reasons for this choice. Let’s look at the details.
Global expansion of altcoin Ripple XRP continues
Sologenic, a platform built on the altcoin XRP Ledger, recently published a report. Accordingly, he highlighted Ripple’s continued success in attracting institutional investors in Dubai. On the other hand, despite the ongoing SEC case, it strengthened its determination on global expansion. Ripple’s strategic move towards Dubai and the Middle East and North Africa (MENA) markets attracts attention. It also demonstrates its commitment to expanding its global footprint. Ripple took an important step in May this year. It has consolidated its presence in Dubai by establishing a new office in the Dubai International Financial Center (DIFC).
The UAE has led the way in emerging $XRP technology.
Learn how the teams at #Ripple and #Sologenic are making an impact in the MENA region.
More below ⤵️https://t.co/1AEXXD5Vs0#GoSOLO pic.twitter.com/pTH4i2nLOH
— Sologenic (@realSologenic) October 10, 2023
During the Dubai Fintech Summit, Ripple CEO Brad Garlinghouse announced a remarkable statistic. Altcoin XRP Ledger (XRPL) has more than 4.8 million wallets. Additionally, 20% of its customers come from the MENA region. This statistic underlines the huge interest and demand for Ripple-based solutions in the Middle East and North Africa, a region where Ripple is making significant strides.
Serving a global audience
Altcoin Ripple primarily focuses on serving customers around the world. On the other hand, more than 90% of its business extends beyond the United States. The MENA region is emerging as a very important market for Ripple. Because Ripple’s leading customers such as SABB, Qatar National Bank, Lulu Financial Holdings, Al-Ansari Exchange and RAK Bank are located in this region.
Sologenic, a local firm in the United Arab Emirates, has enthusiastically embraced Ripple’s role in its mission to attract institutional investors. Sologenic successfully onboards over 200,000 customers to the altcoin XRP Ledger. It also contributes to the expansion of Ripple’s reach in the MENA region.
The growing popularity of XRP payments
Global adoption of cryptocurrencies continues to increase. Additionally, Ripple XRP payments are gaining momentum. BitPay recently announced that the two companies have begun accepting the altcoin XRP through its platform. ExpressVPN, a VPN service provided by British Virgin Islands-registered company Express Technology, has adopted XRP payments via BitPay, as revealed in a tweet from the cryptocurrency payment processor.
Despite the SEC case, Ripple’s strategic moves in Dubai and the MENA region attract attention. In this context, Ripple continues to attract institutional investors. When we look at Kriptokoin.com, the developments underline Rippel’s flexibility and determination to serve the global market. Ripple’s strong presence in these emerging markets positions it for further success in the ever-evolving cryptocurrency world.
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