Ripple has received approval from the DFSA to provide regulated crypto payments in the DIFC, becoming the first blockchain-enabled provider licensed in Dubai. This endorsement reflects Ripple’s ongoing commitment to serving the Middle East’s growing demand for digital financial solutions. The company’s focus on compliance positions it uniquely within the $40 billion cross-border remittance market in the UAE.
Ripple has attained regulatory approval from the Dubai Financial Services Authority (DFSA) to provide regulated crypto payment services in the Dubai International Finance Centre (DIFC). This significant development, announced on March 13, 2025, marks Ripple as the inaugural blockchain-enabled payments provider granted a DFSA license, reflecting the company’s dedication to establishing a compliant and robust framework within the crypto industry.
The newly acquired license reinforces Ripple’s commitment to the Middle East, allowing it to deliver its enterprise-grade crypto solutions to businesses in the United Arab Emirates (UAE). The UAE has emerged as a global leader in cross-border remittances, with a market valued at approximately $40 billion. Ripple’s strategic entry into this regulated arena corresponds with the region’s growing demand for digital asset-based financial services.
Brad Garlinghouse, the Chief Executive Officer of Ripple, stated, “We are entering an unprecedented period of growth for the crypto industry, driven by greater regulatory clarity around the world and increasing institutional adoption.” He underscores the UAE’s conducive environment for technological and crypto innovation as a catalyst for potential growth.
Ripple’s investment in the Middle East dates back several years, having established its regional headquarters at the DIFC in 2020. A notable 20% of Ripple’s global clientele operates within the region, comprising both crypto-focused companies and traditional financial institutions addressing issues such as high fees and delays in cross-border transactions.
A recent survey conducted by Ripple in 2024 revealed that 64% of finance leaders in the Middle East and Africa view expedited payments and settlements as the leading reason for adopting blockchain currencies. This statistic emphasizes the rising interest in blockchain solutions among financial leaders.
Arif Amiri, Chief Executive Officer of the DIFC, expressed excitement over Ripple’s commitment: “We are thrilled that Ripple is deepening their commitment to Dubai by securing a DFSA license that makes them the first blockchain-enabled payments provider in DIFC.” This advancement will allow Ripple to unlock new avenues for growth across the region.
With its DFSA license, Ripple aims to enhance the efficiency of cross-border transactions, as highlighted by Reece Merrick, Ripple’s Managing Director for the Middle East and Africa. He noted that obtaining this license is pivotal for meeting the increasing local demand for faster and more cost-effective cross-border payment solutions.
In addition to cross-border payments, Ripple’s endeavors in stablecoin development have garnered attention. The recently launched RLUSD stablecoin surpassed $100 million in market capitalization, suggesting that stablecoins could significantly enhance the UAE’s payment structures, particularly addressing the inefficiencies of traditional banking processes.
Overall, Ripple has secured more than 60 regulatory approvals worldwide, including licenses in Singapore, New York, and Ireland. At the time of writing, XRP was valued at $2.26, underscoring the company’s notable presence in the cryptocurrency sphere.
Ripple’s regulatory approval from the DFSA marks a significant milestone for the company and the broader crypto industry. This achievement indicates Ripple’s commitment to compliance and its focus on serving the growing demand for digital financial solutions in the UAE. The new license not only enhances Ripple’s capabilities in cross-border payments but also positions the company favorably for future innovations, such as stablecoins, thus reinforcing its role in reshaping the financial landscape in the region.
Original Source: bitcoinist.com
