Ripple has become the first blockchain payments provider to receive official licensing from the Dubai Financial Services Authority (DFSA). With this approval, Ripple can tap into UAE’s $40 billion cross-border payments market.
On 13 March 2025, Ripple announced unlocking fully regulated cross-border crypto payments in the UAE, “bringing faster, cheaper, and more transparent transactions to a $40B market.”
Commenting on the development, Ripple CEO Brad Garlinghouse said, “We are entering an unprecedented period of growth for the crypto industry, driven by greater regulatory clarity around the world 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,” he added.
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
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Ripple’s First License In The Middle East
The company receiving operational rights within the Dubai International Financial Centre (DIFC) means that Ripple’s global payments product will be available for businesses in the UAE.
Welcoming Ripple to the Middle East, Arif Amiri, DIFC CEO said, ”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.”
Ripple’s Middle Eastern expansion strategy started back in 2020 when the company established its regional headquarters in the DIFC.
“As the Middle East, Africa and South Asia’s leading global financial centre, DIFC is proud to support forward-thinking companies like Ripple as they shape the future of finance and accelerate the adoption of blockchain technology in the payments industry,” said Amiri.
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UAE : Global Hub For Outbound Finance With $400bn+ Market For International Trade
Notably, Ripple insists that it is seeing increasing demand from across the Middle East, “from crypto-native firms and traditional financial institutions alike.”
According to a 2024 business survey carried out by Ripple, 64% of Middle East and Africa (MEA) finance leaders see faster payments and settlement times as the biggest value proposition for incorporating blockchain-based currencies into their cross-border payments business.
“Dubai and the broader UAE have established themselves as leaders in fostering a progressive and well-defined regulatory framework for digital assets,” said Reece Merrick, Ripple’s Managing Director for Middle East and Africa.
Key Takeaways
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Ripple has become the first blockchain payments provider to receive official licensing from the Dubai Financial Services Authority (DFSA).
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Ripple’s Middle Eastern expansion strategy started backin 2020 when the company established its regional headquarters in the DIFC.
The post Ripple Breaks Ground In Middle East: Secures First Payment License appeared first on 99Bitcoins.
