Ripple has been approved by the Dubai DFSA for regulatory supervision, becoming the first Block chain payment service provider approved in the region

Ripple becomes the first blockchain payment provider licensed by the Dubai Financial Services Authority (DFSA), and will offer regulated cryptocurrency payment services in the Dubai International Financial Centre (DIFC). This milestone not only demonstrates Ripple's commitment to the Middle East market, but also further strengthens its global Compliance strategy.

Ripple obtains DFSA license to expand into the Middle East market

Ripple's latest statement indicates that as a leader in enterprise Blockchain and encryption solutions, the company has successfully obtained regulatory approval from DFSA to officially provide Compliance encryption payment services in the Dubai International Financial Centre in the UAE. This makes Ripple the first approved Blockchain payment company by DFSA, symbolizing the company's first regulatory authorization in the Middle East market.

Ripple CEO Brad Garlinghouse said:

The global encryption industry is entering an unprecedented period of growth, driven mainly by a more clear regulatory environment and increasing institutional adoption. The UAE, with its leading position in technology and encryption innovation, will undoubtedly benefit from this.

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The $40 billion cross-border payment market in the UAE brings opportunities for Ripple

According to World Bank data, the UAE has a $40 billion cross-border payment market, serving as a crucial hub for global international trade and fund flow.

With Ripple's growing demand in the Middle East, it now accounts for 20% of the global customer base. This demand comes not only from encryption companies, but also from traditional financial institutions seeking solutions to cross-border payment pain points, including high fees, long settlement times, and lack of transparency.

Last year, Ripple's survey of (MEA) financial companies in the Middle East and Africa showed that 64% of respondents believe that accelerating payments and settlement time is the biggest value of blockchain payment technology.

The UAE actively promotes the landing and development of encryption enterprises

DIFC CEO Arif Amiri said he is pleased that Ripple has been successfully approved:

This not only reflects our support for innovation, but also enables Ripple to explore more growth opportunities and expand into the Middle East and beyond.

Ripple's General Manager for the Middle East and Africa, Reece Merrick, pointed out that Dubai and the UAE are at the forefront globally in terms of institutional adoption of Cryptocurrency and digital asset regulatory frameworks, with over 82% of financial enterprises expressing 'very confident' in the application of Blockchain technology.

( Virtual assets are exempt from value-added tax, attracting encryption companies to ) in the UAE.

At the same time, the development of stablecoin payments will also drive adoption in the UAE, known for its instant settlement and transmission features. Ripple's RLUSD stablecoin, launched in December last year, may be able to meet this need.

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Ripple has more than 60 global regulatory licenses

Currently, Ripple has accumulated over 60 regulatory licenses globally, including the major payment institution MPI license issued by the Monetary Authority of Singapore MAS, as well as trust charters issued by the New York Department of Financial Services NYDFS.

Ripple will continue to collaborate with global regulators and policymakers to promote the application of Compliance Blockchain technology in the Financial Service sector, further expanding practical use cases for enterprises and consumers.

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