Ripple received approval from the Dubai Financial Services Authority (DFSA) to offer regulated crypto payments in the Dubai International Financial Centre (DIFC). This approval makes Ripple the first blockchain-powered payments provider licensed by the DFSA, further strengthening its presence in the Middle East.
With this license, Ripple enhances its compliance-driven payment services in the UAE. The approval aligns with its strategy to secure regulatory backing in key financial hubs. CEO Brad Garlinghouse highlighted the rising institutional adoption of digital assets and praised the UAE’s supportive regulatory environment.
Ripple established its regional headquarters in Dubai in 2020. Since then, it has expanded its operations within the DIFC, securing approval for XRP usage in 2023. The company also collaborates with the DIFC Innovation Hub, supporting blockchain development through its 1 billion XRP Fund Program.
Blockchain Improves Cross-Border Payments
Financial institutions and crypto firms in the Middle East seek faster and more efficient payment solutions. Ripple’s blockchain technology reduces high fees, long settlement times, and transparency issues tied to traditional banking systems.
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A 2024 Ripple survey revealed that 64% of finance leaders in the Middle East and Africa (MEA) view faster settlements as blockchain’s main advantage. Additionally, 82% of regional finance executives plan to integrate blockchain solutions.
Ripple Strengthens Regional Market Position
The Middle East accounts for 20% of Ripple’s global customer base. The DFSA license enhances its ability to meet growing demand for efficient payments. His Excellency Arif Amiri, CEO of the DIFC Authority, recognized Ripple’s role in advancing blockchain adoption across the region.
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Beyond Dubai, Ripple has secured approvals from financial regulators in Singapore, New York, and Ireland. It also holds Money Transmitter Licenses in multiple U.S. states.
The DFSA license also supports Ripple’s involvement in stablecoin adoption. Its RLUSD stablecoin, launched in December, has already surpassed $135 million in market capitalization.
