Ripple, the leader in enterprise blockchain and crypto solutions, has received approval from the Dubai Financial Services Authority (DFSA) to provide regulated crypto payments and services in the Dubai International Financial Centre (DIFC).
Ripple will be the first blockchain-enabled payments provider licenced by the DFSA.
Arif Amiri, Chief Executive Officer of DIFC Authority, commented, “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 underscored DIFC’s role as a leading global financial hub for the Middle East, Africa, and South Asia, reaffirming its commitment to supporting forward-thinking companies like Ripple in shaping the future of finance and accelerate the adoption of blockchain technology in the payments industry.
“We are entering an unprecedented period of growth for the crypto industry, driven by greater regulatory clarity around the world and increasing institutional adoption,” said Brad Garlinghouse, Chief Executive Officer of Ripple. “Thanks to its early leadership in creating a supportive environment for tech and crypto innovation, the UAE is exceptionally well-placed to benefit.”
Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, stated, “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.”
