Ripple, a key player in enterprise blockchain and crypto solutions, has secured license from the Dubai Financial Services Authority (DFSA) to offer regulated crypto payments and services in the Dubai International Financial Centre (DIFC).
This marks Ripple as the first blockchain-enabled payments provider licensed by the DFSA, highlighting the company’s unwavering commitment to the region and regulatory compliance globally.
The DFSA license makes Ripple’s seamless compliance-first global payments product available for businesses in the UAE, and strengthens the company’s role as a trusted partner for financial institutions seeking to harness the potential of digital assets to drive real-world utility.
Brad Garlinghouse, Chief Executive Officer of Ripple, commented that, “We are entering an unprecedented period of growth for the crypto industry, driven by greater regulatory clarity around the world 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 – DIFC Authority
”We are thrilled that Ripple is deepening their commitment to Dubai by securing a DFSA license that makes them the first blockchain-enabled payments provider in DIFC. This milestone not only highlights our commitment to fostering innovation, but also opens the door for Ripple to tap into new growth opportunities across the region and beyond. As the Middle East, Africa and South Asia’s leading global financial center, DIFC is proud to support forward-thinking companies like Ripple as they shape the future of finance and accelerate the adoption of blockchain technology in the payments industry.”
Ripple has strengthened its presence in the region since launching its Middle East headquarters in DIFC in 2020. With around 20 percent of its global customer base already operating in the Middle East, this DFSA license positions Ripple to further fuel growth and drive innovation in a high-potential market.
The MEA region has one of the highest levels of institutional readiness when it comes to crypto adoption, with over 82 percent of MEA finance leaders stating they are “very or extremely confident” when it comes to incorporating blockchain solutions into their business.
Reece Merrick, Managing Director for Middle East and Africa at Ripple, stated that, “Dubai and the broader UAE have established themselves as leaders in fostering a progressive and well-defined regulatory framework for digital assets. Securing this DFSA license is a major milestone that will enable us to better serve the growing demand for faster, cheaper and more transparent cross-border transactions in one of the world’s largest cross-border payments hubs. We’re grateful for the support of our partners at DIFC, and we’re ready to hit the ground running with a growing local team and strong customer pipeline.”
Additionally, payments utility is expected to drive greater stablecoin adoption in the UAE, with stablecoins offering real time settlement compared to traditional banking systems. Ripple’s RLUSD stablecoin, launched recently on global exchanges, has already surpassed $130 million in market cap.
This approval from DFSA adds to Ripple’s growing list of over 60 regulatory approvals worldwide, including a Major Payments Institution license from the Monetary Authority of Singapore (MAS), a New York Department of Financial Services (NYDFS) Trust Charter, a Virtual Asset Service Provider (VASP) registration from the Central Bank of Ireland, and Money Transmitter Licences (MTLs) across multiple U.S. states.
As Ripple continues to work closely with regulators and policymakers worldwide, this latest milestone further strengthens its mission to bring the benefits of compliant blockchain technology to financial services companies and their customers globally.
