Ripple Gains DFSA License: Expanding Blockchain Payments in UAE

sevval16/03/20251 Mins read48

Ripple Gains DFSA License- A Step Forward for Blockchain

Ripple Gains DFSA License– Ripple has received regulatory approval from the Dubai Financial Services Authority (DFSA), making it the first blockchain-powered payments provider to be licensed in the UAE. This milestone strengthens Ripple’s presence in the Middle East, allowing the company to enhance its compliance-focused payment solutions in the region.

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Since establishing its regional headquarters in Dubai in 2020, Ripple has been expanding its footprint in the UAE’s financial landscape. In 2023, Ripple obtained approval for XRP usage within the Dubai International Financial Centre (DIFC), further solidifying its commitment to the region. Ripple’s partnership with the DIFC Innovation Hub also supports blockchain development through its $1 billion XRP Fund Program.

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

Brad Garlinghouse, CEO of Ripple, noted the growing institutional adoption of digital assets and the UAE’s role in fostering a favorable regulatory environment for blockchain technologies. He added that the DFSA license aligns with Ripple’s broader strategy of obtaining regulatory approval in key global financial centers.

Addressing Cross-Border Payment Issues

Ripple’s blockchain technology is designed to tackle the inefficiencies of traditional cross-border payments, such as high fees, slow settlement times, and lack of transparency. According to a 2024 Ripple survey, 64% of finance leaders in the Middle East and Africa (MEA) region cited faster settlements as the key benefit of blockchain-based payments. The survey also found that 82% of regional finance leaders are confident in integrating blockchain solutions into their businesses.

The DFSA license further strengthens Ripple’s ability to meet the rising demand for faster, more efficient payment solutions in the Middle East, where around 20% of Ripple’s global customer base is already operating.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.

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sevval

Şevval has been actively writing since 2022 and is a third-year mathematics student at Ankara University. Her interest in writing is shaped particularly around innovative technologies such as Web3, artificial intelligence, and blockchain. She closely follows developments in these fields and aims to convey complex topics to readers in a clear and engaging manner. She enjoys combining her mathematical knowledge with technology to create content and strives to raise awareness about the digital world of the future.

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