Ripple has secured approval from the Dubai Financial Services Authority (DFSA) to offer regulated crypto payments and services within the Dubai International Financial Centre (DIFC). This makes Ripple the first blockchain-enabled payments provider to be licensed by the DFSA.
This approval marks Ripple’s first regulatory license in the Middle East, reinforcing its ongoing commitment to both the region and global regulatory compliance. Businesses in the UAE will now have access to Ripple’s seamless, compliance-first global payments solution, bolstering the company’s role as a trusted partner for financial institutions leveraging digital assets to deliver real-world utility.
“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, Chief Executive Officer of Ripple. “Thanks to its early leadership in creating a supportive environment for tech and crypto innovation, the UAE is exceptionally well-placed to benefit.”
The UAE is a major hub for outbound finance, with a market exceeding $400 billion in international trade. Ripple continues to experience growing demand across the Middle East, with both crypto-native companies and traditional financial institutions seeking alternatives to the inefficiencies of conventional cross-border payments—such as high fees, delayed settlement times, and lack of transparency. According to Ripple’s 2024 business survey, 64% of finance leaders in the Middle East and Africa (MEA) view faster payments and settlement times as the primary advantage of adopting blockchain-based currencies for cross-border transactions.
His Excellency Arif Amiri, Chief Executive Officer of DIFC Authority, stated, “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. 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. 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.”
Ripple established its Middle East headquarters at DIFC in 2020 and has continued to expand its footprint in the region. With approximately 20% of its global customer base already located in the Middle East, this new regulatory approval positions Ripple to accelerate its growth in a high-potential market. The MEA region shows strong institutional readiness for crypto adoption, with over 82% of finance leaders expressing they are “very or extremely confident” in integrating blockchain solutions into their businesses.
“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. “Securing this DFSA license is 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. We’re grateful for the support of our partners at DIFC, and we’re ready to hit the ground running with a growing local team and strong customer pipeline.”
Payments utility is also expected to drive further stablecoin adoption in the UAE, as stablecoins provide real-time settlement, unlike traditional banking systems that often require days to process transactions. Ripple’s own RLUSD stablecoin, launched in late December on global exchanges, has already surpassed $130 million in market cap.
This DFSA license adds to Ripple’s expanding list of more than 60 regulatory approvals worldwide, which includes a Major Payments Institution license from the Monetary Authority of Singapore (MAS), a New York Department of Financial Services (NYDFS) Trust Charter, a Virtual Asset Service Provider (VASP) registration from the Central Bank of Ireland, and Money Transmitter Licenses (MTLs) across various U.S. states.
As Ripple continues to work in close collaboration with regulators and policymakers globally, this latest milestone strengthens its mission to bring compliant blockchain technology to financial services providers and their customers worldwide.
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