Ripple CEO Brad Garlinghouse is set to share his thoughts on the future of cryptocurrency utility and regulation at the upcoming Dubai Fintech Summit.

Garlinghouse plans to discuss the main challenges faced by the cryptocurrency industry and the importance of regulatory frameworks.

He will be joined by CNBC reporter Dan Murphy, and the two will work together to highlight the significance of regulation as the key driver for the growth of the industry.

The inaugural Dubai Fintech Summit is scheduled for May 8th and 9th at Madinat Jumeirah and is expected to bring together more than 5,000 fintech executives and enthusiasts from across the globe.

The event aims to provide a platform for startups, investors, and industry leaders to discuss innovations and challenges in the burgeoning sector.

Dubai has emerged as a key player in the global fintech industry, hosting more than a fifth of the world’s fintech businesses. The city’s government has been working to create a conducive environment for fintech startups and attract global investors to the region.

Ripple, the company behind the popular XRP cryptocurrency, has been building a strong presence in Dubai over the past few years.

Several banks and financial institutions in the area, including the National Bank of Fujairah and the Saudi British Bank, have partnered with Ripple to use its blockchain-based payment solutions for cross-border transactions.

The company had considered moving its global headquarters from San Francisco to another country, with Dubai emerging as a potential candidate. However, Ripple ultimately decided to maintain its base in San Francisco.