Ripple, a leading blockchain and digital payments company, has obtained a license from the Dubai Financial Services Authority (DFSA), allowing it to provide regulated cryptocurrency payment services in the Dubai International Financial Centre (DIFC).
This marks Ripple’s first regulatory license in the Middle East, reinforcing its commitment to compliance and its role as a key player in the region’s fintech ecosystem.
With this license, Ripple will enable businesses across the UAE to leverage blockchain-based payment solutions, enhancing the efficiency of cross-border financial transfers.
Brad Garlinghouse, CEO of Ripple, commented: “We are entering an unprecedented period of growth for the crypto industry, driven by greater regulatory clarity and increasing institutional adoption. Thanks to its early leadership in creating a supportive environment for tech and crypto innovation, the UAE is exceptionally well-placed to benefit.”
Arif Amiri, CEO of DIFC Authority, added: “This milestone highlights our commitment to fostering innovation and opens new growth opportunities for Ripple across the region. DIFC is proud to support companies that are shaping the future of finance.”
Ripple has operated its Middle East headquarters in DIFC since 2020, with approximately 20% of its global customer base located in the region. According to a 2024 Ripple survey, 64% of finance leaders in the Middle East and Africa cite faster settlement times as the primary advantage of blockchain-powered payments.
Ripple’s research also shows that 82% of finance leaders in the region express confidence in adopting blockchain solutions. Additionally, Ripple’s stablecoin RLUSD, launched in December, has surpassed a $130 million market cap, with expectations of increased stablecoin adoption in the UAE due to demand for real-time settlement solutions.
With its latest DFSA license, Ripple now holds over 60 regulatory approvals worldwide, solidifying its position as a leader in the fintech sector. As the global crypto industry matures and demand for instant, secure payments continues to rise, Ripple is well-positioned to drive blockchain adoption across the UAE and beyond.
