Ripple, a leading blockchain payment provider, has received full regulatory approval from the Dubai Financial Services Authority (DFSA) to offer cross-border crypto payment services in the United Arab Emirates (UAE). The company announced on March 13 that it had secured its DFSA license, allowing it to operate within the Dubai International Financial Centre (DIFC), a free-economic zone with its own tax policies and regulatory framework. This milestone follows nearly six months after Ripple initially received in-principle approval for the DFSA license in October 2024, as part of its broader strategy to expand digital asset infrastructure in the UAE.
With this approval, Ripple can now provide its global blockchain-based payment solutions to businesses across the UAE. The company emphasized that this development enables financial institutions to integrate digital assets into real-world applications. Ripple CEO Brad Garlinghouse highlighted the UAE’s supportive regulatory environment, stating, “We are entering an unprecedented period of growth for the crypto industry, driven by greater regulatory clarity around the world and increasing institutional adoption.”
Strengthening Ripple’s Presence in the Middle East
Ripple’s DFSA approval marks a significant milestone, making it the first blockchain-enabled payments provider to operate within DIFC’s free zone. DIFC CEO Arif Amiri welcomed Ripple’s expanded presence, stating, “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 regulatory milestone not only solidifies Ripple’s standing in the UAE but also opens doors for expansion across the Middle East and North Africa (MENA) region.
Since establishing its Middle East headquarters in DIFC in 2020, Ripple has steadily grown its presence in the region. With around 20% of its global customer base already operating in the Middle East, this approval enables Ripple to accelerate growth and innovation in a rapidly evolving market. According to a 2024 business survey conducted by Ripple, 64% of finance leaders in the Middle East and Africa (MEA) view faster payments and settlement times as the biggest advantage of using blockchain-based currencies for cross-border transactions.
Expanding Global Regulatory Compliance
The UAE serves as a major hub for outbound finance, with an international trade market exceeding $400 billion. Ripple has seen increasing demand from both crypto-native firms and traditional financial institutions looking to address inefficiencies in cross-border payments, such as high fees, long settlement times, and lack of transparency. Ripple Managing Director for the Middle East and Africa, Reece Merrick, emphasized the importance of the DFSA license, stating, “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 payments hubs.”
Ripple’s latest regulatory approval adds to its expanding portfolio of over 60 licenses worldwide. These include a Major Payments Institution license 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 multiple Money Transmitter Licenses (MTLs) across various U.S. states.
As Ripple continues collaborating with regulators and policymakers globally, this latest milestone further reinforces its mission to bring compliant blockchain technology to financial services companies worldwide.
