Ripple Secures Cryptocurrency Payment Service License in Dubai, UAE

# Ripple Secures Regulatory Approval for Crypto-Based International Payment Services in UAE Blockchain payment firm Ripple has received regulatory approval to offer crypto-based international payment services in the United Arab Emirates (UAE). According to Cointelegraph, Ripple announced on the 13th that it has secured an official license from the Dubai Financial Services Authority (DFSA) to operate within the Dubai International Financial Centre (DIFC), a free economic zone with its own tax policies and regulatory framework. # Full Approval Grants Ripple Strategic Entry into UAE Market With this formal approval, Ripple can now provide global blockchain payment solutions within the UAE. This comes approximately six months after Ripple received initial approval from the DFSA on October 1, 2024. At that time, Ripple outlined its plans to establish digital asset infrastructure in the UAE. # Expansion of Blockchain Payment Services in the UAE The acquisition of this license allows Ripple to offer substantial digital asset payment solutions to financial institutions and enterprises in the UAE. Ripple CEO Brad Garlinghouse stated, "The UAE is a leader in technology and cryptocurrency innovation, presenting a significant growth potential. Regulatory clarity and increased institutional investment are driving the growth of the cryptocurrency industry." Ripple noted a rising demand for cross-border payments through cryptocurrencies in the Middle East, extending beyond crypto-related companies to traditional financial institutions. # First Cryptocurrency Payment Firm in DIFC With the DFSA approval, Ripple becomes the first company to provide crypto-based payment services within the DIFC free economic zone. DIFC CEO Arif Amiri commented, "By securing the DFSA license, Ripple has become the first blockchain payment company in DIFC. This license will enable Ripple to expand business opportunities within the UAE and the wider Middle East and North Africa (MENA) region." This approval highlights the UAE's position as a burgeoning hub for the growth of the cryptocurrency and blockchain industry.