Ripple Secures Financial License from DFSA to Expand Services in UAE

user avatar

by Giorgi Kostiuk

2 years ago

Ripple has received in-principle approval of a financial services license from the Dubai Financial Services Authority (DFSA) to expand its services from the Dubai International Financial Centre (DIFC). This milestone marks a significant step in Ripple's global expansion.

Ripple's Recent Win in Crypto Regulation

Ripple's chief legal counsel, Stuart Alderoty, reacted to the recent win in crypto regulation. Ripple has received in-principle approval of a financial services license from the DFSA, significantly expanding its capabilities to launch payment services in the United Arab Emirates.

Planned Services and Ripple's Global Expansion

This milestone significantly expands Ripple's global footprint as a regulated firm. The license will allow the company to launch cross-border payment services, such as Ripple Payments Direct (RPD), in the UAE. Alderoty highlighted that Ripple's license portfolio now exceeds 55 and continues to grow.

New Ripple Partnerships in the Middle East

Ripple recently announced a partnership with the DIFC Innovation Hub as part of its global one billion XRP fund program. The partnership aims to strengthen blockchain and digital asset innovation in the UAE by connecting emerging developers to DIFC's extensive innovation network. Additionally, Ripple renewed its strategic collaboration with NYU Abu Dhabi through the University Blockchain Research Initiative (UBRI), granting over $1 million to support research projects.

The in-principle approval from DFSA and new partnerships open up new opportunities for Ripple to further its development and strengthen its presence in the Middle East.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

Trump's New Memo Aims to Revolutionize US Space Launches

chest

US President Donald Trump signed a memo aimed at increasing the number of commercial space launches to at least 1,000 annually by 2030.

user avatarGustavo Mendoza

Space Stocks Decline as Market Reacts to Trump's Memo

chest

Space stocks, including SpaceX and AST SpaceMobile, declined by 3% as the market reacted to Trump's memo on increasing US commercial space launches.

user avatarKenji Takahashi

Rocket Lab's Shares Surge Amid Market Challenges

chest

Rocket Lab is experiencing a surge in its stock performance, tracking its best monthly results since May, following a key preflight testing milestone for its reusable fairing.

user avatarMaria Fernandez

New Report Released Using Primary Source Materials.

chest

The report is based on information released in disclosures at primary source documentation, aiming to provide accurate and reliable information to the audience.

user avatarRajesh Kumar

Micron Stock Predictions for 2030 Show Wide Range

chest

Analysts predict Micron's stock could range from $260 to over $2,000 by 2030, with an average target of $1,568.

user avatarMiguel Rodriguez

Future Prospects for Dogecoin: SpaceX and X Integration

chest

Elon Musk's plans for SpaceX and the potential integration of Dogecoin into his X social media platform could significantly boost its value.

user avatarArif Mukhtar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.