Ripple has received regulatory approval from the Dubai Financial Services Authority (DFSA) to provide crypto payments and services within the Dubai International Financial Centre (DIFC), marking its first license in the Middle East.
The approval makes Ripple the first blockchain-based payments provider licensed by the DFSA, allowing it to offer regulated digital asset services in one of the world’s leading financial hubs. The company said the license aligns with its focus on compliance and expanding financial technology solutions globally.
Ripple Expands in the Middle East
Dubai has positioned itself as a hub for financial technology and digital assets, attracting companies seeking regulatory clarity. Ripple’s presence in the region has grown since it established its Middle East headquarters in DIFC in 2020.
The company reports that 20% of its global customer base operates in the Middle East, with demand rising from both crypto-native firms and traditional financial institutions. According to a Ripple survey conducted in 2024, 64% of finance leaders in the Middle East and Africa cited faster settlement times as the key benefit of blockchain-based cross-border payments. The company aims to address inefficiencies in traditional payment systems, such as high fees and long transaction times, through blockchain technology.
DIFC Authority CEO Arif Amiri welcomed Ripple’s licensing, describing it as a step toward fostering innovation in financial services. “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,” he stated.
Regulatory Growth and Industry Impact
The DFSA approval adds to Ripple’s portfolio of regulatory licenses worldwide, which includes approvals from the Monetary Authority of Singapore, the New York Department of Financial Services, and the Central Bank of Ireland. The company has secured more than 60 regulatory approvals across different jurisdictions.
Ripple officials say the license will help accelerate adoption of blockchain-based payments, particularly in the UAE’s international trade sector, valued at over $400 billion. Managing Director for the Middle East and Africa, Reece Merrick, called the license a “major milestone” that will support demand for faster and more transparent cross-border transactions.
The approval also comes as stablecoin adoption grows in the UAE, with Ripple launching its RLUSD stablecoin in December. The digital asset has surpassed $130 million in market capitalization, reflecting increasing interest in blockchain-based financial solutions.
As the global regulatory landscape for digital assets continues to evolve, Ripple’s expansion in Dubai underscores the city’s role in shaping the future of blockchain and financial technology.
