Ripple Secures DFSA License to Expand Crypto Payments in UAE

Ripple has officially obtained regulatory approval from the Dubai Financial Services Authority (DFSA) to offer crypto payment services in the UAE, becoming the first blockchain-based payments firm to receive such a license.

“With increasing regulatory clarity and growing institutional interest, the crypto industry is set for unprecedented expansion,” said Ripple CEO Brad Garlinghouse. “The UAE’s forward-thinking approach to technology and digital assets positions it as a key hub for innovation and adoption.”

Ripple has reported rising demand for its services across the Middle East, with approximately 20% of its global customer base already operating in the region.

Stablecoins and Instant Settlement in the UAE

The adoption of crypto payments in the UAE is also expected to drive greater usage of stablecoins, which provide real-time settlement capabilities. This could further bolster Ripple’s RLUSD stablecoin, which currently holds a $134 million market capitalization, backed by an equivalent amount in U.S. dollars.

Global Regulatory Reach Strengthens

The DFSA license is the latest in Ripple’s string of over 60 regulatory approvals worldwide, adding to:

• 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 U.S. states

These approvals reinforce Ripple’s standing as a regulated leader in cross-border crypto payments.

XRP Climbs as SEC Case Nears Resolution

XRP has gained nearly 4% in the past 24 hours, outpacing bitcoin (BTC), as speculation grows that Ripple’s prolonged legal battle with the U.S. Securities and Exchange Commission (SEC) may be reaching its final stages.