Ripple, a leading enterprise blockchain and crypto solutions provider, has received approval from the Dubai Financial Services Authority (DFSA) to offer regulated crypto payments and services within the Dubai International Financial Centre (DIFC).
Ripple becomes the first blockchain-enabled payments provider to be licensed by the DFSA.
Arif Amiri, CEO of DIFC Authority, expressed excitement about Ripple’s commitment to Dubai, stating, “We are thrilled that Ripple is deepening their commitment to Dubai by securing a DFSA licence 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.”
Amiri also emphasized DIFC’s role as a key global financial hub for the Middle East, Africa, and South Asia, reaffirming the centre’s dedication to supporting forward-thinking companies like Ripple in shaping the future of finance and accelerating blockchain technology adoption in the payments industry.
Brad Garlinghouse, CEO of Ripple, remarked, “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.”
Ripple’s Managing Director for the Middle East and Africa, Reece Merrick, highlighted, “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.”-WAM
