AIRLINK 180.20 Decreased By ▼ -0.66 (-0.36%)
BOP 11.70 Increased By ▲ 0.03 (0.26%)
CNERGY 7.48 Decreased By ▼ -0.02 (-0.27%)
FCCL 46.15 Increased By ▲ 0.08 (0.17%)
FFL 16.04 Decreased By ▼ -0.22 (-1.35%)
FLYNG 27.51 Increased By ▲ 0.27 (0.99%)
HUBC 133.80 Increased By ▲ 1.73 (1.31%)
HUMNL 13.00 Decreased By ▼ -0.02 (-0.15%)
KEL 4.60 Increased By ▲ 0.03 (0.66%)
KOSM 6.16 Increased By ▲ 0.06 (0.98%)
MLCF 59.25 Increased By ▲ 0.08 (0.14%)
OGDC 224.68 Increased By ▲ 3.30 (1.49%)
PACE 5.85 Decreased By ▼ -0.02 (-0.34%)
PAEL 45.40 Decreased By ▼ -0.14 (-0.31%)
PIAHCLA 17.87 Decreased By ▼ -0.09 (-0.5%)
PIBTL 10.52 Increased By ▲ 0.34 (3.34%)
POWER 11.76 Decreased By ▼ -0.09 (-0.76%)
PPL 187.80 Increased By ▲ 3.71 (2.02%)
PRL 36.45 Decreased By ▼ -0.09 (-0.25%)
PTC 25.05 Increased By ▲ 0.09 (0.36%)
SEARL 100.42 Decreased By ▼ -0.81 (-0.8%)
SILK 1.16 Decreased By ▼ -0.01 (-0.85%)
SSGC 37.40 Increased By ▲ 0.14 (0.38%)
SYM 15.64 Increased By ▲ 0.44 (2.89%)
TELE 7.87 Increased By ▲ 0.07 (0.9%)
TPLP 10.67 Increased By ▲ 0.03 (0.28%)
TRG 64.50 Increased By ▲ 3.94 (6.51%)
WAVESAPP 10.80 Decreased By ▼ -0.02 (-0.18%)
WTL 1.32 No Change ▼ 0.00 (0%)
YOUW 3.79 Increased By ▲ 0.08 (2.16%)
BR100 12,445 Increased By 113.4 (0.92%)
BR30 38,240 Increased By 468.3 (1.24%)
KSE100 116,696 Increased By 496.1 (0.43%)
KSE30 36,017 Increased By 110.5 (0.31%)
World

Ripple says securing Dubai crypto licence a ‘major milestone’

  • Ripple will be the first blockchain-enabled payments provider licenced by Dubai Financial Services Authority
Published March 14, 2025

Ripple, an enterprise blockchain and crypto solutions provider, 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 DFSA, according to a statement by the Dubai government published Thursday.

“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,” said Reece Merrick, Ripple’s Managing Director for the Middle East and Africa.

Dubai’s Crypto Tower will feature an exotic car dealership and a gold bullion shop

Meanwhile the company’s CEO, Brad Garlinghouse, said “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.”

UAE fund ploughs $2bn into Binance crypto exchange

“Ripple can now expand its global payment solutions to UAE businesses, encouraging broader adoption of blockchain technology. This also sets an example for other crypto companies to seek similar regulatory approvals and operate within a legal framework,” George Pavel General Manager at Naga.com Middle East told Business Recorder.

“The approval also strengthens Dubai’s position as a key hub for Ripple’s growth in the Middle East, Africa, and South Asia,” he said, adding that “by tapping into Dubai’s $40 billion international trade market, Ripple aims to improve cross-border payments and develop the region’s role in fintech and digital assets.”

“Ripple’s licensed status is expected to drive further adoption of XRP for cross-border payments, contributing to Dubai’s strategy to attract more blockchain firms and investments.”

Arif Amiri, DIFC Authority CEO, said that the move “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 reafirrmed DIFC’s 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.

Comments

200 characters