Ripple has received regulatory approval from the Dubai Financial Services Authority (DFSA) to provide crypto payments and services in the Dubai International Financial Centre (DIFC).
Per a recent press release, this approval makes Ripple the first blockchain-powered payments provider licensed by the DFSA, strengthening its presence in the Middle East.
Ripple has secured regulatory approval from the Dubai Financial Services Authority (DFSA), making us the first blockchain payments provider licensed in the DIFC. https://t.co/6oHWtnjODr
This milestone unlocks fully regulated cross-border crypto payments in the UAE, bringing…
— Ripple (@Ripple) March 13, 2025
Regulatory Milestone in the UAE
With the DFSA license, Ripple expands its compliance-focused payment services in the United Arab Emirates. The approval aligns with its broader strategy of securing regulatory backing in key financial hubs worldwide. Brad Garlinghouse, Ripple’s CEO, acknowledged the growing institutional adoption of digital assets and the UAE’s role in fostering a supportive regulatory environment.
Ripple’s presence in the UAE dates back to 2020 ,when it established its regional headquarters in Dubai. Since then, the company has expanded its operations within the DIFC, obtaining approval for XRP usage in 2023. Ripple has also partnered with the DIFC Innovation Hub, supporting blockchain development through its 1 billion XRP Fund Program.
Addressing Cross-Border Payment Challenges
Financial institutions and crypto-native firms in the Middle East continue to seek efficient alternatives to traditional cross-border payments. Ripple’s blockchain technology aims to reduce high fees, long settlement times, and transparency issues associated with conventional banking systems.
A 2024 Ripple survey found that 64% of finance leaders in the Middle East and Africa (MEA) region see faster settlements as the primary advantage of blockchain-based payments. Meanwhile, 82% of regional finance leaders expressed confidence in integrating blockchain solutions into their businesses.
With around 20% of Ripple’s global customer base already operating in the Middle East, the DFSA license further strengthens its ability to meet the rising demand for efficient payment solutions. His Excellency Arif Amiri, CEO of the DIFC Authority, acknowledged the significance of Ripple’s regulatory milestone, highlighting its potential to drive blockchain adoption across the region. Amiri adds;
“As the Middle East, Africa, and South Asia’s leading global financial center, DIFC is proud to support forward-thinking companies like Ripple as they shape the future of finance and accelerate the adoption of blockchain technology in the payments industry.”
Stablecoins and Global Expansion
Ripple’s regulatory momentum extends beyond Dubai, with approvals from the Monetary Authority of Singapore, the New York Department of Financial Services, and the Central Bank of Ireland. Additionally, the company holds Money Transmitter Licenses across several U.S. states.
The DFSA license also positions Ripple to play a role in stablecoin adoption within the UAE. The company’s RLUSD stablecoin, launched in December, has surpassed $135 million in market capitalization.
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