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EgyptRipple Receives License from Dubai Financial Services Authority for Blockchain Payments
2 min
Ripple becomes the first blockchain payment provider to be licensed by the Dubai Financial Services Authority.
The license allows Ripple to offer regulated cryptocurrency payment services in Dubai.
Ripple's expansion is part of Dubai's efforts to promote innovation in the financial sector.
UAE's regulatory clarity on cryptocurrencies has helped increase institutional adoption.
Ripple plans to address the rising demand for cross-border payment solutions in the region.
Ripple, a leading provider of blockchain-based solutions for digital payments, has officially received a license from the Dubai Financial Services Authority (DFSA), marking a significant step in its growth in the Middle East. The approval makes Ripple the first payment service provider using blockchain technology to operate under the authority’s regulatory framework, enabling the company to offer its services within the UAE's financial hub, the Dubai International Financial Centre (DIFC).
The announcement was made in a statement released on March 13, 2025, highlighting Ripple’s commitment to the region. "We are thrilled to see Ripple strengthen its presence in Dubai, becoming the first blockchain-based payment service provider licensed by the DFSA. This achievement reflects our continued commitment to fostering innovation and offers Ripple new opportunities for growth in the region and beyond," said Arif Amiri, CEO of the DIFC Authority.
Brad Garlinghouse, Ripple’s CEO, emphasized the importance of regulatory clarity in fostering the growth of the cryptocurrency sector. He noted that the expanding global adoption of cryptocurrencies and the growing institutional interest in the technology have paved the way for such advancements. “With its leadership in fostering innovation in tech and digital currencies, the UAE is uniquely positioned to take full advantage of this growing trend,” Garlinghouse stated.
The new license also comes as a key milestone for Ripple’s regional expansion plans. Reece Merrick, Ripple’s managing director for the Middle East and Africa, expressed his excitement about the company’s ability to meet the increasing demand for cross-border payment solutions. This development will enhance Ripple's capacity to provide seamless and regulated payment services across the region, further positioning Dubai as a global leader in financial technology innovation.
The DFSA's decision to grant Ripple this license is part of Dubai’s broader strategy to solidify its role as a major global fintech hub, drawing innovative companies that are leading the way in blockchain technology and digital finance.
