Ripple has obtained a DFSA license to provide regulated crypto payments and services in the UAE, becoming the first blockchain-enabled provider licensed by the DFSA. This decision supports Ripple’s plans for compliance-driven solutions and aligns with the UAE’s burgeoning crypto market. Ripple aims to address challenges in cross-border payments and is advancing its involvement in stablecoin innovation.
Ripple has received regulatory approval from the Dubai Financial Services Authority (DFSA) to provide regulated crypto payments and services within the Dubai International Finance Centre (DIFC). This achievement, announced on March 13, 2025, makes Ripple the first blockchain-enabled payments provider licensed by the DFSA, signifying their commitment to compliance-driven solutions for the Middle East market.
This license will enable Ripple to introduce its “compliance-first global payments product” to businesses in the United Arab Emirates (UAE), a significant market valued at approximately $40 billion. This move reflects Ripple’s strategy to cater to the increasing demand for digital financial tools in a region recognized for cross-border remittances.
Ripple has been focused on the Middle East for years, establishing its regional headquarters at the DIFC in 2020. Presently, around 20% of Ripple’s global clients are based in this area, as both crypto and traditional financial companies seek solutions to challenges like high fees and slow transaction times in cross-border payments.
In a 2024 survey by Ripple, 64% of finance leaders in the Middle East and Africa (MEA) identified faster payments and settlements as crucial factors for integrating blockchain currencies into their business operations.
Arif Amiri, CEO of the DIFC, expressed excitement over Ripple’s license acquisition, stating that it emphasizes Dubai’s commitment to innovation. He believes Ripple’s presence will help shape the future of finance and accelerate blockchain adoption in payments.
With this licensing, Ripple aims to enhance the efficiency of cross-border transactions. Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, highlighted that this license is a major step towards meeting the demand for faster, more transparent transactions in one of the world’s largest payment hubs.
Additionally, Ripple is making strides in stablecoin innovation; its RLUSD stablecoin, launched in December, has a market cap exceeding $100 million. Stablecoins are increasingly integral to the UAE’s payment landscape due to traditional banking delays in processing international transactions.
Globally, Ripple holds over 60 regulatory approvals, including licenses from key financial entities such as the Monetary Authority of Singapore, the New York Department of Financial Services, and the Central Bank of Ireland, as well as various Money Transmitter Licenses (MTLs) across several U.S. states. At press time, XRP is trading at $2.26.
Ripple’s recent DFSA license acquisition marks a pivotal moment for the company’s expansion in the Middle Eastern crypto market. With its focus on compliance and innovation, Ripple is poised to facilitate efficient cross-border transactions and explore stablecoin opportunities in the region. The regulatory approval underlines Ripple’s commitment to driving the adoption of digital financial solutions in a rapidly growing market.
Original Source: bitcoinist.com
