Ripple has achieved a major milestone by becoming the first blockchain-based payment provider to receive a license from the Dubai Financial Services Authority (DFSA). This approval marks the company’s official entry into the regulated cryptocurrency payment space within the Dubai International Financial Centre (DIFC), a significant step in its expansion into the Middle East.
With this license, Ripple can now offer its payment solutions to businesses across the UAE, further solidifying its presence in the region. The company has been steadily growing its Middle Eastern operations since establishing its headquarters in DIFC in 2020. Today, more than 20% of Ripple’s global customer base operates in this region, underscoring the strategic importance of this market.
Ripple CEO Brad Garlinghouse emphasized the significance of this development, 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. Thanks to its early leadership in creating a supportive environment for tech and crypto innovation, the UAE is exceptionally well-placed to benefit.”
DIFC Authority CEO Arif Amiri echoed these sentiments, saying, “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 milestone not only highlights our commitment to fostering innovation but also opens the door for Ripple to tap into new growth opportunities across the region and beyond.”
Beyond regulatory approvals, Ripple continues to expand its financial ecosystem. The company’s RLUSD stablecoin, which launched in December 2024 on global exchanges, has already surpassed a market capitalization of $130 million. This growing adoption highlights Ripple’s increasing influence in the digital payments sector.
The DFSA license adds to Ripple’s extensive portfolio of over 60 regulatory approvals worldwide. In addition to this achievement, the company recently announced a strategic partnership with Portuguese currency exchange provider Unicâmbio. This collaboration aims to facilitate instant cross-border payments between Portugal and Brazil, reinforcing Ripple’s commitment to enhancing global financial connectivity.
Ripple’s latest regulatory milestone in Dubai signals a broader trend of increasing acceptance and institutional adoption of blockchain-based payment solutions. As regulatory frameworks continue to evolve worldwide, the company is well-positioned to drive innovation and expand its influence in the financial sector.
By Alejanndro Silva Ramírez, Crypto Analyst & Columnist