Ripple Receives In-Principle Approval from Dubai Financial Services Authority

Ripple has received approval from the Dubai Financial Services Authority (DFSA) to launch its electronic payments services in the UAE, strengthening its operations in the Middle East.
Ripple announced on the 2nd that it has received in-principle approval from the DFSA to expand its services in the Dubai International Financial Centre (DIFC).
The milestone marks Ripple's strengthening of its global regulatory position and the launch of Ripple Payments in the United Arab Emirates (UAE).
It enables the introduction of seamless cross-border payment services, including Direct (RPD).
DFSA approval allows Ripple to offer corporate credit to a wider range of customers in the UAE
The company plans to deploy Bell's digital asset infrastructure. This expansion will support key initiatives such as strong compliance, liquidity, best-in-class custody services, and on/off-ramps between fiat and digital assets.
Combined with ongoing investments in infrastructure components, this will enable businesses to offer faster, more cost-effective and efficient cross-border payment solutions.
Ripple CEO Brad Garlinghouse said, "Blockchain and cryptocurrency technology are here to stay."
"By providing clear guidance for innovative businesses to invest and expand, and taking a pre-regulatory approach, the UAE will position itself as a global leader in this new era of financial technology," he said.
"Ripple has established itself as a DFSA-regulated financial services provider within the DIFC and as a blockchain-based payment services provider," he said.
The in-principle approval of the license by the DFSA comes as the company expands its presence in the Middle East since establishing its regional headquarters in Dubai in 2020.
The report highlights Ripple's strategy to develop a global financial services and blockchain company with regulatory clarity in the UAE and access to fast-growing markets across the Middle East, Africa and South Asia.
The region's strategic position as a centre for trade and trade is the main reason why Ripple has decided to continue investing in the region. The comprehensive regulatory framework established by the DFSA provides a strong foundation for innovative cryptocurrencies.
"DIFC is a forward-thinking financial center that supports innovation and growth," said Salmaan Jaffery, head of business development at the DIFC Authority.
"We are committed to building a digital ecosystem that will enable international businesses to make a lasting impact," he said. "Dubai's strategic location and DIFC's strong legal and regulatory framework make it the perfect place for international businesses to make a lasting impact."
"We are pleased to welcome Ripple to its continued expansion within the DIFC," he said.