Ripple, a global 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 Finance Centre (DIFC). This makes Ripple the first blockchain-enabled payments provider licensed by the DFSA, marking a significant step in its expansion.
This is Ripple’s first regulatory license in the Middle East, reinforcing the company’s long-term commitment to the region and its emphasis on regulatory compliance worldwide. With this approval, businesses in the United Arab Emirates (UAE) can now access Ripple’s compliance-first global payments solutions. The move also strengthens Ripple’s position as a trusted partner for financial institutions leveraging digital assets for real-world utility.
Executive Leadership on the DFSA License
Brad Garlinghouse, CEO of Ripple, highlighted the broader industry implications of this milestone:
“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.”
Arif Amiri, CEO of DIFC, emphasized the significance of Ripple’s regulatory approval:
“We are thrilled that Ripple is deepening their commitment to Dubai by securing a DFSA license 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. As the Middle East, Africa, and South Asia’s leading global financial center, DIFC is proud to support forward-thinking companies like Ripple as they shape the future of finance and accelerate the adoption of blockchain technology in the payments industry.”
Dubai’s Strategic Role in Global Cross-Border Payments
According to World Bank data, the UAE is home to a $40 billion cross-border payments market, solidifying its position as a global hub for international trade and outbound finance. Ripple has experienced growing demand in the Middle East from both crypto-native firms and traditional financial institutions, all seeking to address inefficiencies in legacy cross-border payment systems—including high fees, slow settlement times, and lack of transparency.
A 2024 business survey conducted by Ripple revealed that 64% of finance leaders in the Middle East and Africa (MEA) believe that faster payments and settlement times are the most valuable benefits of blockchain-based currencies in cross-border transactions.
Ripple’s Expansion and Commitment to the Region
Since establishing its Middle East headquarters in DIFC in 2020, Ripple has steadily increased its presence in the region. With nearly 20% of its global customer base operating in the Middle East, this latest regulatory approval positions Ripple to accelerate growth and innovation in a rapidly expanding market.
The MEA region demonstrates strong institutional readiness for crypto adoption, with over 82% of finance leadersexpressing confidence in integrating blockchain-based solutions into their business models.
Reece Merrick, Managing Director for Ripple in the Middle East and Africa, remarked:
“Dubai and the broader UAE have established themselves as leaders in fostering a progressive and well-defined regulatory framework for digital assets. Securing this DFSA license 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. We’re grateful for the support of our partners at DIFC and are ready to hit the ground running with a growing local team and strong customer pipeline.”
The Rise of Stablecoins in the UAE
Blockchain-powered payments are expected to drive stablecoin adoption in the UAE, given their ability to provide real-time settlements compared to traditional banking systems that often take days to process transactions.
Ripple’s own stablecoin, RLUSD, which launched in December 2024, has already surpassed $100 million in market capitalization on global exchanges.
Global Regulatory Approvals and Compliance Leadership
Ripple’s DFSA license adds to its growing list of over 60 regulatory approvals worldwide, which include:
- Major Payments Institution license from the Monetary Authority of Singapore (MAS)
- New York Department of Financial Services (NYDFS) Trust Charter
- Virtual Asset Service Provider (VASP) registration from the Central Bank of Ireland
- Money Transmitter Licenses (MTLs) across multiple U.S. states
As Ripple continues to collaborate with regulators and policymakers worldwide, this latest milestone further strengthens its mission to bring compliant blockchain technology to financial institutions and their customers on a global scale.
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