Blockchain
payments company Ripple has secured a regulatory license from the Dubai
Financial Services Authority (DFSA), becoming the first digital assets-enabled
payments provider authorized to operate in the Dubai International Finance
Centre (DIFC), the company announced today (Thursday).
Ripple Becomes First
Blockchain Payments Provider Licensed by Dubai’s Financial Regulator
The
approval represents Ripple’s first license in the Middle East and allows the
company to offer regulated crypto payment services to businesses throughout the
UAE, strengthening its position in a region where it already maintains about
20% of its global customer base.
This is a
continuation of the regulatory moves initiated by the company in the Middle
East late last year when, in October, it
obtained an in-principle license to launch cross-border payment services.
“We
are entering an unprecedented period of growth for the crypto industry, driven
by greater regulatory clarity around the world and increasing institutional
adoption,” said Brad Garlinghouse, Ripple’s Chief Executive
Officer. “Thanks to its early leadership in creating a supportive
environment for tech and crypto innovation, the UAE is exceptionally
well-placed to benefit.”
Research
suggests strong regional appetite for blockchain-based payment solutions, with
a 2024 Ripple survey finding 64% of Middle East and Africa finance leaders
prioritizing faster payments and settlement times as blockchain’s primary value
proposition.
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UAE Wants to Become a
Crypto Hub
The license
arrives as the
UAE continues positioning itself as a global hub for crypto innovation. The
country hosts a $400 billion-plus international trade market and has attracted
growing interest from both traditional financial institutions and crypto-native
businesses seeking alternatives to conventional cross-border payment systems.
“This
milestone not only highlights our commitment to fostering innovation, but also
opens the door for Ripple to tap into new growth opportunities across the
region and beyond,” said His Excellency Arif Amiri, DIFC Authority CEO.
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/6oHWtnjODrThis milestone unlocks fully regulated cross-border crypto payments in the UAE, bringing…
— Ripple (@Ripple) March 13, 2025
Since establishing
its regional headquarters in DIFC in 2020, Ripple has steadily expanded its
Middle East presence. The company notes that over 82% of finance leaders in the
Middle East and Africa region report high confidence in integrating blockchain
solutions into their operations.
Growing Regulatory
Portfolio
Reece
Merrick, Ripple’s Managing Director for Middle East and Africa, described the
license as “a major milestone that will enable us to better serve the
growing demand for faster, cheaper and more transparent cross-border
transactions in one of the world’s largest cross-border payments hubs.”
The UAE
license adds to Ripple’s growing regulatory portfolio, which now includes over
60 approvals worldwide. The company has previously secured licenses from Singapore’s
Monetary Authority, New York’s Department of Financial Services, Ireland’s
Central Bank, and numerous U.S. state money transmitter authorities.
Ripple’s
RLUSD stablecoin, launched in late December on global exchanges, has
already achieved a market capitalization exceeding $130 million. The company
expects stablecoin adoption to accelerate in the UAE as businesses seek
real-time settlement alternatives to traditional banking systems.
This article was written by Damian Chmiel at www.financemagnates.com.
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