Ripple Secures DFSA License to Provide Crypto Payments in Dubai’s Financial Centre
- Ripple receives approval from the Dubai Financial Services Authority (DFSA) to provide regulated crypto payments in the Dubai International Financial Centre (DIFC).
- This marks Ripple’s first regulatory license in the Middle East, reinforcing its commitment to compliance.
- Growing demand from both traditional financial institutions and crypto firms in the UAE for efficient cross-border payment solutions.
Ripple Expands Its Regulatory Footprint in the Middle East
Ripple has successfully obtained a license from the Dubai Financial Services Authority (DFSA), allowing it to offer regulated crypto payment services in the Dubai International Financial Centre (DIFC). This milestone further establishes Ripple as a key player in the region’s fintech ecosystem, enabling businesses across the UAE to leverage blockchain-based payment solutions.
Brad Garlinghouse, CEO of Ripple, commented:
“We are entering an unprecedented period of growth for the crypto industry, driven by greater regulatory clarity and increasing institutional adoption. Thanks to its early leadership in creating a supportive environment for tech and crypto innovation, the UAE is exceptionally well-placed to benefit.”
Dubai has cemented its status as a leading global financial center, with over $400 billion in international trade. Ripple reports increasing demand for blockchain-based payment solutions from both traditional financial institutions and crypto-native businesses in the region.
According to a 2024 Ripple survey, 64% of finance leaders in the Middle East and Africa cite faster settlement times as the primary advantage of blockchain-powered payments.
Arif Amiri, CEO of DIFC Authority, added:
“This milestone highlights our commitment to fostering innovation and opens new growth opportunities for Ripple across the region. DIFC is proud to support companies that are shaping the future of finance.”
Ripple Strengthens Its Regional Presence and Stablecoin Adoption
- Ripple has operated its Middle East headquarters in DIFC since 2020, with approximately 20% of its global customer base located in the region.
- 82% of finance leaders in the Middle East and Africa express confidence in adopting blockchain solutions, according to Ripple’s research.
- Ripple’s stablecoin RLUSD, launched in December, has surpassed a $130 million market cap.
- The company anticipates increased adoption of stablecoins in the UAE, driven by demand for real-time settlement solutions.
Ripple’s Global Regulatory Expansion
With its latest DFSA license, Ripple now holds over 60 regulatory approvals worldwide, including:
- A Major Payments Institution license in Singapore
- A New York Trust Charter in the United States
- Virtual Asset Service Provider registration in Ireland
- Multiple U.S. Money Transmitter Licenses
Looking Ahead
As the global crypto industry matures and demand for instant, secure payments continues to rise, Ripple is well-positioned to drive blockchain adoption across the UAE and beyond.
