Ripple Becomes First Blockchain Firm Licensed by DFSA to Offer Crypto Payments in UAE
Ripple has officially received regulatory approval from the Dubai Financial Services Authority (DFSA) to provide crypto payment services in the UAE. This milestone makes Ripple the first blockchain-based payments provider to be licensed by the agency.
“With increasing regulatory clarity and institutional adoption worldwide, the crypto industry is experiencing unprecedented growth,” said Ripple CEO Brad Garlinghouse. “The UAE’s commitment to fostering innovation in fintech and digital assets makes it a key market for expansion.”
The Middle East continues to be a growing hub for Ripple, with around 20% of its global customer base already operating in the region.
Stablecoin Demand to Accelerate in UAE
The demand for faster and more efficient payment solutions is expected to drive greater adoption of stablecoins in the UAE, thanks to their real-time settlement capabilities. Ripple’s RLUSD stablecoin, currently holding a $134 million market capitalization backed by USD reserves, stands to benefit from this trend.
Ripple Expands Regulatory Reach with Global Approvals
The DFSA license adds to Ripple’s impressive list of over 60 regulatory approvals worldwide, including:
- A Major Payments Institution license from the Monetary Authority of Singapore (MAS)
- A Trust Charter from the New York Department of Financial Services (NYDFS)
- A Virtual Asset Service Provider (VASP) registration from the Central Bank of Ireland
- Multiple Money Transmitter Licenses (MTLs) across various U.S. states
These regulatory milestones reinforce Ripple’s position as a leader in compliant blockchain-based payments.
XRP Gains as SEC Case Nears Conclusion
XRP has surged nearly 4% in the past 24 hours, outperforming bitcoin (BTC), as market optimism grows over the potential resolution of Ripple’s long-standing legal battle with the U.S. Securities and Exchange Commission (SEC).
