{"id":3355,"date":"2023-11-04T08:49:31","date_gmt":"2023-11-04T03:19:31","guid":{"rendered":"https:\/\/news.cetoex.com\/?p=3355"},"modified":"2023-11-04T08:50:36","modified_gmt":"2023-11-04T03:20:36","slug":"dubai-incorporates-xrp-into-special-economic-zone","status":"publish","type":"post","link":"https:\/\/news.cetoex.com\/dubai-incorporates-xrp-into-special-economic-zone\/","title":{"rendered":"Dubai Incorporates XRP Into Special Economic Zone"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/watcher.guru\/news\/wp-content\/uploads\/2023\/02\/dubai-800x420.jpg.webp\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"has-medium-font-size\">The Dubai International Financial Centre (DIFC) has\u00a0approved\u00a0two crypto assets, XRP and Toncoi (TON), to be incorporated into its special economic zone. The two new assets are joining Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTE), which were approved earlier.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">The move will allow over 4000 financial institutions and companies within the DIFC to utilize XRP and TON. According to Brad Garlinghouse, CEO of Ripple,&nbsp;<strong>\u201cIt\u2019s refreshing to see the DFSA encourage the adoption and use of digital assets such as XRP to position Dubai as a leading financial services hub.\u201d<\/strong><\/p>\n\n\n\n<div class=\"wp-block-rank-math-toc-block\" id=\"rank-math-toc\"><h2>Table of Contents<\/h2><nav><ul><li><a href=\"#will-xrp-and-ton-rally-from-dubais-move\">Will XRP and TON rally from Dubai\u2019s move?<\/a><\/li><\/ul><\/nav><\/div>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"has-medium-font-size\">Dubai\u2019s regulators have consistently demonstrated their pro-innovation approach, with this announcement as the latest example.\u00a0<a href=\"https:\/\/twitter.com\/Ripple?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">@Ripple<\/a>\u00a0will continue doubling down in regions where there is regulatory clarity for crypto \u2013 a key reason we\u2019re hosting\u00a0<a href=\"https:\/\/twitter.com\/hashtag\/RippleSwell?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#RippleSwell<\/a>\u00a0in Dubai this\u2026\u00a0<a href=\"https:\/\/t.co\/PlIj7ubTcg\" target=\"_blank\">https:\/\/t.co\/PlIj7ubTcg<\/a>\u2014 Brad Garlinghouse (@bgarlinghouse)\u00a0November 2, 2023<\/p>\n<\/blockquote>\n\n\n\n<p class=\"has-medium-font-size\">The Dubai Financial Services Authority (DFSA), which governs the DIFC, brought in crypto regulations two years ago, in October 2021. The approval of the two assets is the latest move by the Emirate to become a global crypto hub. Dubai has made incredible progress in the last few years to become more friendly towards crypto firms and assets.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"will-xrp-and-ton-rally-from-dubais-move\">Will XRP and TON rally from Dubai\u2019s move?<\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/watcher.guru\/news\/wp-content\/uploads\/2023\/10\/Millions-of-XRP-Moved-This-Week-Could-This-Trigger-a-Price-Rally.jpg\" alt=\"\" class=\"wp-image-117263\"\/><\/figure>\n\n\n\n<p class=\"has-medium-font-size\">The inclusion of the tokens has provided them with over 4000 institutions. Institutional money is usually a driver for any kind of market. Moreover, XRP was recently cleared of being a security by a US court. The ruling has made the token very attractive for many investors. However, the court ruling did say that the sale to institutional investors did fall under the \u201csecurities\u201d definition. Therefore, it is unclear how it would impact the token\u2019s price. Nonetheless, the development is still bullish for the project.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Read This :\u00a0<a href=\"https:\/\/news.cetoex.com\/cetoex-made-easy-8-step-guide-to-buying-crypto\/\" target=\"_blank\" rel=\"noreferrer noopener\">Cetoex Made Easy 8-Step Guide to Buying Crypto.<\/a><\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\">TON has also had a successful year so far. The token is up 5.3% over the last week and 9.6% in the monthly charts. Moreover, it is up by 37.4% over the previous year.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">We may see an increase in adoption for both crypto assets as more institutions in Dubai dip their toes in them.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Social Media<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><a href=\"https:\/\/www.instagram.com\/cetoex\/?igshid=MzNlNGNkZWQ4Mg%3D%3D\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Do Follow Cetoex Instagram<\/strong><\/a><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><a href=\"https:\/\/t.me\/CetoEXExchange\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Join Cetoex Telegram<\/strong><\/a><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><a href=\"https:\/\/cetoex.com\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Cetoex Website<\/strong><\/a><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><a href=\"https:\/\/twitter.com\/Cetoex\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Cetoex Twitter<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Dubai International Financial Centre (DIFC) has\u00a0approved\u00a0two crypto assets, XRP and Toncoi (TON), to be incorporated into its special economic zone. The two new assets are joining Bitcoin (BTC), Ethereum&hellip; <\/p>\n","protected":false},"author":1,"featured_media":3356,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[1032],"tags":[167],"class_list":["post-3355","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cetoex-news","tag-xrp"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/news.cetoex.com\/wp-content\/uploads\/2023\/11\/dubai-800x420.jpg.webp","_links":{"self":[{"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/posts\/3355"}],"collection":[{"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/comments?post=3355"}],"version-history":[{"count":1,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/posts\/3355\/revisions"}],"predecessor-version":[{"id":3357,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/posts\/3355\/revisions\/3357"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/media\/3356"}],"wp:attachment":[{"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/media?parent=3355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/categories?post=3355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/tags?post=3355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}