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 Hiding Place 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, hiding places will be stored in your inventory and can be opened with Keys.

Other news

US Treasury Department Moves to Cut MEXC Global from Financial System

The US Treasury Department has taken action against MEXC Global, a cryptocurrency exchange, to sever its ties with the American financial system due to accusations of facilitating over $16 billion in illicit transactions linked to Iran, North Korea, and Russia.

user avatarLucas Weissmann

Political Fallout from Ueno Bank Crisis in Paraguay

The Ueno Bank crisis has triggered significant political repercussions in Paraguay, including the resignation of President Santiago Peña and potential impeachment proceedings.

user avatarFilippo Romano

Greece Enhances Crypto Tax Transparency Measures

Greece will implement new reporting and documentation requirements for cryptocurrency purchases starting in 2027 to ensure funds come from declared income or lawful sources.

user avatarTomas Novak

Greece Introduces 10% Tax on Crypto Investment Profits

Greece introduces a 10% tax on individual crypto investment gains starting January 1, 2027.

user avatarEmily Carter

Gnosis Pay Implements Enhanced Security Measures Following Breach

Gnosis Pay has implemented enhanced security measures, including 3D Secure for online payments and increased fraud monitoring, following a data breach.

user avatarMaya Lundqvist

Gnosis Pay Reports Data Breach Affecting Customer Information

Gnosis Pay reported a data breach where hackers accessed customer information through its card system, prompting immediate containment measures.

user avatarKaterina Papadopoulou

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.