Blockchain payments provider Ripple has secured full regulatory approval from the Dubai Financial Services Authority (DFSA) to offer crypto payment services in the United Arab Emirates.
Ripple Secures DFSA License
Ripple has become the first blockchain-powered payments provider to be licensed by the DFSA for cross-border crypto payment services in the UAE. This highlights the company's commitment to regulatory compliance in the region and globally.
Details of the New License
With this license, Ripple will now be able to offer its global blockchain-based payment solutions to businesses across the UAE. This approval reinforces Ripple's role as a trusted partner for financial institutions looking to leverage the superior capabilities of digital assets.
Ripple CEO's View on DFSA License
Ripple CEO, Brad Garlinghouse, mentioned that the crypto industry is entering a period of unprecedented growth driven by greater regulatory clarity and increasing institutional adoption worldwide. 'Thanks to its early leadership in creating a supportive environment for technology and crypto innovation, the UAE is in an exceptional position to benefit from this.', he said.
Securing the DFSA license strengthens Ripple's position as a key player in the international crypto payments market and underscores its commitment to adhering to global standards.
