Ripple has achieved full approval from the Dubai Financial Services Authority to offer cross-border crypto payment services within the Dubai International Financial Centre.
Cross-Border Crypto Payments
The UAE has established itself as a leader in crypto adoption and regulatory innovation, attracting firms like Ripple. There is growing demand for efficient and cost-effective cross-border payments in the Middle East and North Africa. In response, Ripple offers its global payment network and liquidity solutions to financial institutions.
Ripple Becomes First Licensed Provider in DIFC
With this approval, Ripple becomes the first blockchain-enabled payments provider in the Dubai International Financial Centre. DIFC CEO Arif Amiri welcomed the company's expanded role in the region.
Strategic Importance for Ripple
Ripple's CEO, Brad Garlinghouse, highlighted the strategic importance of the UAE due to its progressive stance on crypto regulation. Ripple's entry into DIFC allows them to expand their services across the UAE and the broader MENA region.
The DFSA license solidifies Ripple's position as a leader in the crypto payments market, offering new opportunities for expansion in the MENA region.
