Ripple Gains Regulatory Approval in Dubai to Facilitate Crypto Transactions in UAE

Ripple Becomes First DFSA-Licensed Blockchain Payments Provider in UAE

Ripple has secured regulatory approval from the Dubai Financial Services Authority (DFSA) to offer crypto payment services in the UAE, marking a significant milestone as the first blockchain-powered payments company licensed by the regulator.

“With increasing regulatory clarity and institutional adoption worldwide, we are entering an era of unprecedented growth for the crypto industry,” said Ripple CEO Brad Garlinghouse. “The UAE’s proactive stance in fostering fintech and crypto innovation makes it a key market for expansion.”

Ripple has witnessed rising demand across the Middle East from both crypto-native firms and traditional financial institutions. Currently, the region accounts for around 20% of Ripple’s global customer base.

Stablecoin Adoption Set to Grow in UAE

The demand for seamless payments is expected to accelerate stablecoin adoption in the UAE, given their real-time settlement advantages. This trend could boost Ripple’s RLUSD stablecoin, which currently has a market capitalization of $134 million, backed 1:1 by USD reserves.

Regulatory Milestones and Global Expansion

Ripple’s DFSA license adds to its growing list of over 60 regulatory approvals worldwide, including:

• A Major Payments Institution license from the Monetary Authority of Singapore (MAS)
• A Trust Charter from the New York Department of Financial Services (NYDFS)
• A Virtual Asset Service Provider (VASP) registration from the Central Bank of Ireland
• Multiple Money Transmitter Licenses (MTLs) across various U.S. states

These approvals position Ripple as a leader in global crypto payments, reinforcing its commitment to regulatory compliance.

XRP Rallies as Legal Battle Nears Conclusion

XRP has surged nearly 4% in the last 24 hours, outperforming bitcoin (BTC), as reports indicate that Ripple’s high-profile legal dispute with the U.S. Securities and Exchange Commission (SEC) may be approaching its final resolution.