Ripple has obtained regulatory approval from the Dubai Financial Services Authority (DFSA) to offer crypto payments and services in the Dubai International Finance Centre (DIFC).
This is Ripple’s first official license in the Middle East, making it the region’s first blockchain-enabled payments provider to receive DFSA authorization.
The license will enable Ripple to expand its global payments solutions in the UAE, offering businesses seamless, compliance-first transactions using blockchain technology. The company aims to build trust with financial institutions and improve cross-border payment efficiency.
Brad Garlinghouse, CEO of Ripple, praised the UAE’s progressive stance on crypto regulation, stating,
“We are entering an unprecedented period of growth for the crypto industry, driven by greater regulatory clarity around the world and increasing institutional adoption.”
His Excellency Arif Amiri, CEO of DIFC Authority, welcomed Ripple’s expanded presence, saying,
“This milestone not only highlights our commitment to fostering innovation but also opens the door for Ripple to tap into new growth opportunities across the region and beyond.”
Ripple is experiencing growing demand from Middle Eastern financial institutions for improved cross-border payment solutions. A 2024 survey indicated that 64% of finance leaders in the Middle East and Africa prioritize faster payment settlement as the main advantage of blockchain-based currencies.
Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, noted that the DFSA license is a significant step toward meeting regional demand, adding,
“Securing this license is a major milestone that will enable us to better serve the growing demand for faster, cheaper, and more transparent cross-border transactions.”
Notably, Ripple Labs recently obtained money transmitter licenses in Texas and New York, enhancing its U.S. operations. Announced on January 27, the company noted strong demand for real-time global payments from banks and crypto businesses in these states. The licenses will allow Ripple to expand its cross-border payment solutions across the U.S. and strengthen its commitment to efficient and compliant payment services.
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