Ripple, a leading provider of digital asset infrastructure, has received in-principle approval from the Dubai Financial Services Authority (DFSA) to expand its operations in the Dubai International Financial Centre (DIFC).
Ripple's Licensing and Expansion
This remarkable milestone strengthens Ripple’s position as a regulated entity and enables the launch of its cross-border payment service, Ripple Payments Direct (RPD), in the United Arab Emirates (UAE). With this authorization, Ripple is set to extend its enterprise-grade digital asset infrastructure to a broader customer base in the UAE. The move aligns with Ripple’s mission to offer faster, cost-effective, and more efficient cross-border payment solutions by combining regulatory compliance with key investments in liquidity, custody, and on/off-ramps between fiat and digital assets.
Regional Benefits
Ripple will become the first blockchain-powered payment services provider to be licensed by the DFSA, the independent regulator overseeing financial services in the DIFC. This development is a major step forward for Ripple’s expansion in the Middle East, following the establishment of its regional headquarters in Dubai in 2020. The UAE’s strategic location and clear regulatory framework were key factors in Ripple’s decision to deepen its investment in the region. As a global financial services and trade hub, Dubai offers access to emerging markets across the Middle East, Africa, and South Asia, making it an ideal location for blockchain and fintech innovation.
Global Strategy and Innovation
Ripple’s latest DFSA approval is part of its broader global strategy to work with regulators and integrate compliant blockchain and crypto technologies into the existing financial system. According to the company, which holds over 55 licenses globally—including from regulators in Singapore, New York, and Ireland—it places regulatory compliance at the forefront of its efforts to promote blockchain adoption in financial services. Reece Merrick, Managing Director for Ripple in the Middle East and Africa, highlighted the significance of the approval, noting that 20% of Ripple’s global customer base is located in the UAE. He added that Ripple looks forward to supporting the UAE’s vision of becoming a leading global crypto and fintech hub.
In addition to regulatory achievements, Ripple has announced new partnerships aimed at accelerating crypto and blockchain adoption in the UAE. Its collaboration with the DIFC Innovation Hub will further support blockchain innovation by connecting developers with over 1,000 tech firms and venture capital entities. Moreover, Ripple has renewed its partnership with NYU Abu Dhabi through the University Blockchain Research Initiative (UBRI), increasing its total funding to over $1 million to support blockchain research and student initiatives.
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