Ripple has secured in-principle approval from the Dubai Financial Services Authority (DFSA) to expand its services from the Dubai International Financial Centre (DIFC). This marks a significant step in Ripple’s growth as a regulated entity, allowing it to introduce cross-border payment services in the UAE, including Ripple Payments Direct (RPD).
With DFSA authorization, Ripple plans to expand its digital asset infrastructure in the UAE, aligning with its mission to offer businesses faster, more cost-effective cross-border payment solutions. Ripple’s CEO, Brad Garlinghouse, highlighted the UAE's forward-thinking regulatory approach, positioning the country as a global leader in financial technology.
Ripple will become the first blockchain-based payment services provider licensed by the DFSA, marking a major milestone in its expansion across the Middle East. The UAE's regulatory clarity and strategic importance as a financial hub have been crucial to Ripple's decision to continue investing in the region.
Ripple Managing Director, Reece Merrick, emphasized the pivotal moment for the company’s operations in the Middle East, noting the increasing demand for efficient cross-border payment solutions and Ripple’s commitment to supporting the UAE's vision of becoming a global crypto and fintech hub.