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Ripple secured regulatory approval from a Dubai financial authority, marking its first Middle East license and positioning it as a leader in blockchain-powered payments amid growing institutional adoption.
Ripple Just Got Regulatory Approval in Dubai
Ripple announced on March 13 that it has secured regulatory approval from the Dubai Financial Services Authority to offer blockchain-powered payment services in the Dubai International Financial Centre (DIFC). The company shared the news on social media platform X:
Ripple has secured regulatory approval from the Dubai Financial Services Authority (DFSA), making us the first blockchain payments provider licensed in the DIFC.
This milestone marks Ripple’s first license in the Middle East, reinforcing its commitment to regulatory compliance and financial innovation in the region.
Brad Garlinghouse, Ripple’s CEO, highlighted the broader impact of the approval: “We are entering an unprecedented period of growth for the crypto industry, driven by greater regulatory clarity around the world and increasing institutional adoption.” He emphasized that the UAE’s proactive approach to crypto regulation makes it a key market for blockchain expansion.
The license positions Ripple to address inefficiencies in cross-border payments, such as high fees, slow processing times, and lack of transparency. With the UAE serving as a $400 billion hub for international trade, demand for faster and more cost-effective financial solutions continues to grow. A 2024 survey by Ripple found that 64% of finance leaders in the Middle East and Africa (MEA) consider faster settlement times to be the biggest advantage of blockchain-based payments.
His Excellency Arif Amiri, CEO of DIFC Authority, welcomed the announcement:
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.
He stated that this move highlights DIFC’s commitment to innovation and strengthens Dubai’s role as a global financial hub.
Ripple established its Middle East headquarters in DIFC in 2020 and has steadily expanded its presence, with 20% of its global customers now based in the region. Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, described the DFSA approval as a “major milestone” that will enable the company to better serve its growing client base. Ripple now holds over 60 regulatory approvals worldwide, including licenses from financial authorities in Singapore, Ireland, and the United States. With its regulatory strategy focused on compliance and collaboration, Ripple continues to advance its mission of integrating blockchain technology into the global financial system.