Dubai Fintech Summit Confirms Second Edition For May 2024 Showcasing the significant growth and potential of the fintech sector in the region, as per an official statement, the fintech players Ripple and Coinbase announce plans for regional hubs in the UAE
By Teena Jose
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Dubai International Financial Centre (DIFC), a global financial centre in the Middle East, Africa, and South Asia (MEASA) region, today announced the second edition of Dubai FinTech Summit to be held on 6-7 May 2024. Under the patronage of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance of the UAE, and President of the Dubai International Financial Centre (DIFC), the first edition of the summit concluded with a turnout of 5,300 visitors from 92 countries.
"We have marked a significant milestone for fintech in the region, as Dubai emerges as a leading hub for innovation and entrepreneurship. With the industry growing at an unprecedented pace, the 2024 Dubai FinTech Summit will provide an invaluable platform for industry leaders and experts to come together, discuss opportunities, and draw the blueprint that will continue to guide the future of finance," said Mohammad AlBlooshi, CEO of DIFC Innovation Hub.
According to an official release, Dubai FinTech Summit 2023 saw over 20 MoUs signed with global financial leaders, with DIFC inking 12 MoUs during the Summit alone, with global powerhouses of finance and technology, including Standard Chartered Bank, due to launch digital asset custody services (subject to regulatory approval) to cater to institutional clients globally.
Moreover, Brad Garlinghouse, CEO of Ripple, a crypto solutions provider, announced that with 20% of its customers being MENA-based,the company is choosing to leverage the city's forward-thinking regulatory framework and ecosystem to open its first regional hub in Dubai at DIFC. On the other hand, Global crypto exchange, Coinbase, also announced its expansion plans, with CEO Brian Armstrong stating the company's intent to explore the UAE as a prospective hub for its operations in the Middle East, Africa, and Asia.
