Ripple gained approval from the Dubai Financial Services Authority to offer regulated crypto payments and services in the UAE. This marks Ripple as the first blockchain-enabled payments provider licensed by the agency and strengthens Ripple’s presence around the world.
Ripple received the approval from DFSA
On Thursday, Ripple, a leading digital asset infrastructure, received in-principle approval from the Dubai Financial Services Authority (DFSA). This allows the project to expand its services from the Dubai International Financial Centre (DIFC) and the Middle East (UAE) area as well. As a result, this milestone strengthens Ripple’s global presence as a regulated entity. It also enables the launch of seamless cross-border payment services, including Ripple Payments Direct (RPD), in the United Arab Emirates (UAE). Additionally, Ripple is the first blockchain-enabled payment provider licensed by this agency.
Learn more: How to Buy XRP in 5 Easy Steps
With DFSA authorization, it can now offer its enterprise-grade digital asset infrastructure to more customers in the UAE. This expansion aligns with Ripple’s goal of delivering faster, cost-effective, and efficient cross-border payment solutions. Furthermore, it combines strong regulatory compliance with ongoing investments in key infrastructure, such as liquidity, top-tier custody, and on/off-ramps between fiat and digital assets.
“Blockchain and crypto technologies are here to stay,” said Brad Garlinghouse, Ripple’s CEO. “The UAE’s forward-thinking regulatory approach and clear guidance for innovative businesses make it a global leader in this new era of financial technology.”
Source: Bloomberg
Ripple reported growing demand in the Middle East from both crypto-native firms and traditional financial institutions, with approximately 20% of its global customer base already operating in the region. Additionally, the UAE’s increasing focus on payment utility is expected to accelerate stablecoin adoption, as stablecoins enable real-time settlements. This trend could further boost the growth of Ripple’s RLUSD RLUSD stablecoin, which had a market capitalization of $134 million as of Thursday, backed by an equivalent amount in USD reserves.
Ripple is expanding its presence internationally
As receiving approval from a Dubai authority department, the protocol has broadened its strategic collaboration with regulators in nearly 60 countries across the world, like the U.S., Singapore, or Ireland. The updated in-principle license fosters Ripple in the way of integrating blockchain and crypto technologies with the traditional financial services. Also, it bolsters Ripple’s aim to prioritize policy compliance toward a deeper adoption of blockchain and financial services.
Upon the news of DFSA’s approval, XRP prices XRP have risen by nearly 4% in the past 24 hours, outperforming Bitcoin (BTC) during ongoing issues in the Ripple vs. SEC court case.
About Ripple
Ripple is a leading provider of digital asset infrastructure, focusing on delivering fast, efficient, and cost-effective cross-border payment solutions. Leveraging blockchain technology, Ripple enables financial institutions, businesses, and governments worldwide to seize economic opportunities through its RippleNet platform and products like On-Demand Liquidity (ODL). Under the leadership of CEO Brad Garlinghouse, Ripple is shaping the future of global finance with innovative solutions like the RLUSD stablecoin.
