Big news for Ripple, a company that helps send money using cryptocurrency! They just got official permission from Dubai to offer their services there. This is a big deal because it's the first time a company like Ripple has been allowed to do this in Dubai. This means faster and cheaper ways to send money around the world!
- Ripple got permission to operate in Dubai.
- This lets them send crypto money across borders.
- Dubai's money transfer market is HUGE ($40 billion!).
- Ripple's special digital coin, XRP, went up a little after the news.
| Fact | Number |
|---|---|
| XRP price increase after Dubai news | 3% |
| XRP price over past week | down 11.8% |
| XRP price increase year-over-year | nearly 219% |
Ripple is also hoping to settle a big legal fight soon, which could be great news for them! Think of cryptocurrency like digital money; it's like using a special code to send money, much like you might use your bank app.
