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Ripple secures first DFSA license for blockchain payments in the UAE, opening access to a $400B trade hub with regulated cross-border services and RLUSD stablecoin.
Ripple Targets $400B UAE Trade Hub With Fully Regulated Cross-Border Payments
Ripple shared insights on May 1, highlighting a major regulatory achievement in the United Arab Emirates (UAE), as it became the first blockchain-powered payments company to receive licensing from the Dubai Financial Services Authority (DFSA).
The license permits Ripple to offer its cross-border payments platform, Ripple Payments, across the region—a move seen as pivotal for the company and digital asset adoption in the Middle East. The company noted:
Ripple is the first blockchain-powered payments provider to be licensed by the Dubai Financial Services Authority (DFSA) to bring its flagship cross-border payments solution, Ripple Payments, to businesses across the region.
The company positioned this milestone as a catalyst for broader innovation and confidence in digital finance. According to Ripple: “This licensing milestone helps legitimize real-world applications of digital assets in the Middle East and will beget innovative financial services for institutions and retailers alike. Ripple is fueling this transformation by providing the trusted payments, custody and stablecoin solutions that banks, fintechs, and crypto businesses need to support and scale their digital asset strategies.”
Ripple opened its Dubai office in 2020 and has since grown its regional footprint, now accounting for 20% of its global customer base in the Middle East. The region’s embrace of blockchain solutions has been fueled by favorable regulations, rising enterprise adoption, and a young, tech-forward population.
The blockchain firm emphasized the practical implications of its new licensing status in one of the world’s largest trade and remittance corridors, stating:
DFSA licensing approval allows Ripple to offer fully regulated cross-border crypto payments in the UAE. For businesses operating in the $400B trade hub, one of the world’s largest, and a $40B remittance market, this means expanded access to faster, more cost-effective and transparent international transactions.
In addition to offering regulated payments, Ripple is rolling out RLUSD, its enterprise-grade USD-backed stablecoin, to further support secure, compliant, and scalable blockchain-based financial solutions in the region.
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