Ripple has become the first blockchain payments firm to secure a licence from the Dubai Financial Services Authority (DFSA). This is the firm’s first licence in the Middle East, and enables the firm to provide regulated cryptocurrency payments and services within the Dubai International Finance Centre (DIFC).

“Securing this DFSA licence 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,” said Reece Merrick, Ripple’s Managing Director for the Middle East and Africa.

Ripple has taken a major step in its global expansion plans by securing regulatory approval in the UAE and obtaining a Dubai Financial Services Authority (DFSA) license to offer cross-border crypto payment services in Dubai.

Ripple received regulatory approval from Dubai’s Financial Services Authority (DFSA) to offer cross-border crypto payments.

Ripple secures a DFSA license to offer regulated crypto payments in Dubai, enhancing its role in global financial solutions.

Payments utility is also expected to drive greater stablecoin adoption in the UAE for their real time settlement value proposition.

On March 13, the U.S.-based digital payments company Ripple announced that it has received a license from the Dubai Financial Services Authority (DFSA) to offer regulated crypto payments and services in the Dubai International Finance Centre (DIFC).