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Dubai: Ripple, a leader in enterprise blockchain and crypto solutions, has recently secured approval from the Dubai Financial Services Authority (DFSA) to offer regulated crypto payments and services in the Dubai International Financial Centre (DIFC).The DFSA made the announcement on Thursday, March 13, most bolsters institutional adoption of blockchain the first blockchain-powered payments provider licensed by the authority, this milestone marks Ripple’s inaugural license in the Middle East, reinforcing its commitment to the region and global regulatory alert: Ripple spikes 31%, here's why.”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," Arif Amiri, Chief Executive Officer of DIFC Authority, said in a 's a milestone for Ripple and also opens the door for it to tap into new growth opportunities across the region and beyond. "As the Middle East, Africa and South Asia’s leading global financial centre, 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,” Amiri approval helps catapult crypto, including Ripple (XRP), to the mainstream. Cryptography is at the core of blockchain technology, which relies on cryptographic techniques to secure transactions, verify identities, and maintain the Dubai institutional approval, Ripple's seamless compliance-first global payments product will be available for use by businesses in the UAE.. It also reinforces Ripple’s role as a trusted partner for financial institutions looking to leverage the superior capabilities of digital assets to drive real-world utility.“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. UAE, a global hub“Thanks to its early leadership in creating a supportive environment for tech and crypto innovation, the UAE is exceptionally well-placed to benefit.”The UAE is a global hub for outbound finance, with a $400bn+ market for international trade. Ripple has seen increasing demand across the Middle East from crypto-native firms and traditional financial institutions alike, all seeking solutions to the inefficiencies of traditional cross-border payments—such as high fees, long settlement times, and lack of transparency. According to a 2024 business survey carried out by Ripple, 64 per cent of Middle East and Africa (MEA) finance leaders see faster payments and settlement times as the biggest value proposition for incorporating blockchain-based currencies into their cross-border payments DIFC since 2020Since establishing its Middle East headquarters in DIFC in 2020, Ripple has continued to deepen its presence in the region. With 20 per cent of its global customer base already operating in the Middle East, this latest regulatory approval positions Ripple to further accelerate growth and innovation in a high-potential market. The MEA region has one of highest levels of institutional readiness when it comes to crypto adoption, with over 82 per cent of MEA finance leaders stating they are “very or extremely confident” when it comes to integrating blockchain solutions into their business.“Dubai and the broader UAE have established themselves as leaders in fostering a progressive and well-defined regulatory framework for digital assets,” said Reece Merrick, Ripple’s Managing Director for Middle East and Africa. “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. We’re grateful for the support of our partners at DIFC, and we’re ready to hit the ground running with a growing local team and strong customer pipeline.”PaymentsPayments utility is also expected to drive greater stablecoin adoption in the UAE, with stablecoins offering real time settlement compared to traditional banking systems, which often take days to process. Launched at the end of December on global exchanges, Ripple’s own RLUSD stablecoin has already surpassed $130m in market ’s DFSA licence adds to its growing list of over 60 regulatory approvals worldwide, including a Major Payments Institution licence from the Monetary Authority of Singapore (MAS), a New York Department of Financial Services (NYDFS) Trust Charter, a Virtual Asset Service Provider (VASP) registration from the Central Bank of Ireland, and Money Transmitter Licences (MTLs) across multiple U.S. said it will continue to work closely with regulators and policymakers worldwide, adding that the latest milestone strengthens its mission to bring the benefits of compliant blockchain technology to financial services companies and their customers globally.
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