Ripple, a leading blockchain-based payment provider, has received full regulatory approval from the Dubai Financial Services Authority (DFSA), allowing it to offer cross-border crypto payment services in the United Arab Emirates (UAE).
This milestone marks a significant step in Ripple’s ongoing expansion in the Middle East, a region that has rapidly embraced blockchain technology and digital assets.
The company announced on March 13 that it had secured its DFSA license, granting it the ability to operate within the Dubai International Financial Centre (DIFC), one of the UAE’s most prominent economic zones. The DIFC boasts a progressive regulatory environment and its tax policies, making it an attractive fintech and blockchain innovation hub.
Ripple’s approval follows a six-month review period, after the company initially obtained in-principle approval from the DFSA in October 2024. At that time, Ripple outlined its goal of securing a full operating license, signaling its intent to roll out a robust digital asset infrastructure across the UAE.
With this new regulatory clearance, Ripple is now positioned to offer its Ripple Payments Direct (RPD) service, facilitating seamless fiat and crypto transactions for businesses and consumers in the region.
Concerning the achievement, Reece Merrick, Managing Director of Ripple in Africa and the Middle East said:
“With clear regulations and growing demand, Dubai is the place to be for blockchain-powered payments.”
Pioneering Blockchain Payment Solutions in the Economic Zone
With its newly secured DFSA license, Ripple is now officially positioned to provide blockchain-based payment solutions to businesses across the United Arab Emirates (UAE).
The approval enables Ripple to collaborate with financial institutions and enterprises, helping them integrate digital assets into real-world financial applications.
This milestone also cements Ripple’s status as the first blockchain-enabled payments provider to operate within DIFC’s economic free zone, according to Arif Amiri, CEO of the Dubai International Financial Centre (DIFC). Expressing his enthusiasm about the development, Amiri stated,
“We are thrilled that Ripple is deepening its commitment to Dubai by securing a DFSA license that makes them the first blockchain-enabled payments provider in DIFC.”
The regulatory green light allows Ripple to expand its reach beyond the UAE, tapping into opportunities across the Middle East and North Africa (MENA) region.
Beyond its latest regulatory milestone in Dubai, Ripple has aggressively expanded its global compliance footprint. The company now boasts over 60 regulatory approvals worldwide, reinforcing its position as one of the most regulated blockchain payment providers.
Some of its most notable approvals 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 Money Transmitter Licenses (MTLs) across multiple U.S. states.
Quick Facts:
- Ripple received in-principle approval from the DFSA to operate in the DIFC, enabling the launch of its Ripple Payments Direct (RPD) service in the UAE.
- The UAE is a strategic market for Ripple, with over 20% of its global customer base located in the region.
- Dubai’s regulatory framework aims to establish the emirate as a leading hub for blockchain and fintech innovation.
- Ripple’s expansion into Dubai is anticipated to boost the adoption of crypto payment solutions across the Middle East.
