Ripple has renewed its partnership with NYU Abu Dhabi to support blockchain research and innovation. This partnership aims to foster talent development, advance digital asset adoption, and integrate blockchain technology into startups and established institutions in the UAE. Ripple has funded numerous scholarships and research projects through its UBRI program, demonstrating its commitment to driving innovation in the region.

Ripple’s Funding of NYU Abu Dhabi Exceeds $1 Million

The digital asset infrastructure provider, Ripple, has renewed its strategic partnership with NYU Abu Dhabi through its University Blockchain Research Initiative (UBRI). Ripple’s extension of the partnership will bring its total funding of NYU Abu Dhabi research projects and student initiatives to over $1 million.

According to a statement, Ripple’s latest renewal of the partnership is part of its wider goal of deepening its presence in the United Arab Emirates (UAE) and the Middle East. It also underscores the company’s dedication to nurturing talent, fostering innovation, and advancing the adoption of digital assets in the region.

Commenting on the infrastructure provider’s partnership renewal announcement, Reece Merrick, Ripple Managing Director for the Middle East and Africa, said:

“The UBRI program plays a crucial role in supporting cutting-edge research and academic exploration, and this ongoing collaboration exemplifies Ripple’s dedication to driving transformative advancements in digital finance.”

Merrick added that this extension, together with the infrastructure provider’s collaboration with the Dubai International Financial Centre (DIFC) Innovation Hub, highlights Ripple’s goal of integrating blockchain technology into startups and established institutions in the UAE.

Boosting UAE’s Global Financial Hub Ambitions

Meanwhile, Lauren Weymouth, Director of University Partnerships at Ripple, disclosed that in the past year alone, the company funded some 313 scholarships and blockchain-related research projects. Weymouth added that support for UBRI underscores Ripple’s commitment to fostering transformative projects and supporting the UAE’s vision of becoming a global financial hub.

Raša Karapandža, a Visiting Professor of Economics at NYU Abu Dhabi, said Ripple’s UBRI program strengthens the learning institution’s commitment to driving innovation and fostering a forward-thinking mindset within its academic community.

In addition to supporting initiatives in the UAE, Ripple has also provided funding to other institutions, including Morgan State University’s National Fintech Center, which received a $1.05 million grant, and the Fintech Lab at the National University of Singapore (NUS) School of Computing, which was awarded $1 million.

What are your thoughts on this story? Share your opinion in the comments section below.