News has been going around that Ripple (XRP) will now open an office in Dubai. This news has been confirmed by executives at ripple as well. This is the next natural step for ripple (XRP) to expand globally. However, many of the investors are trying to figure out whether this will benefit the investors in the shorter term or whether they will need to wait for more in order to reap the dividends of this move.
Will Ripple’s Middle Eastern expansion lead to a rally?
With a dedicated office in Dubai, Ripple (XRP) will be able to directly pitch its protocols as well as blockchain technology to various financial institutions as well as banks in the Middle East. This will definitely help it in gaining more and more clients for its Xrapid protocol as well as the other products which it has on offer as well. According to the Global Head of Infrastructure Innovation at Ripple, Dilip Rao, Ripple is going to seriously focus on the Middle Eastern market by opening the Dubai office by the end of this year.
With continuous expansion by ripple (XRP) not just technologically but also geographically, it will be able to capture a sizable share in the cross-border payments market. This will actually reap rich dividends for ripple (XRP) investors. The investors will be able to see a rally due to the increasing demand of Ripple (XRP) as well as the traction. Sooner than later, it will actually help the existing investors in ripple (XRP).