Ripple has achieved a major regulatory milestone by securing full approval from the Dubai Financial Services Authority (DFSA). This makes Ripple the first blockchain-enabled payments provider to be licensed by the DFSA, significantly expanding its operations in the Middle East.
The approval follows Ripple’s initial in-principle authorization in October, reinforcing its growing presence in Dubai, where it has operated a regional headquarters since 2020. With this license, Ripple can now offer its global payment solutions to businesses across the UAE, strengthening its position as a trusted partner for financial institutions seeking blockchain-powered cross-border transactions.
UAE’s Pro-Crypto Stance Fuels Ripple’s Growth
The UAE has emerged as a leading global hub for blockchain and fintech innovation, thanks to its regulatory clarity and supportive business environment. With a $400 billion international trade market, Dubai continues to attract both crypto-native firms and traditional financial institutions seeking solutions for inefficiencies in cross-border payments, such as high fees, slow settlement times, and limited transparency.
Ripple CEO Brad Garlinghouse highlighted the significance of this development, stating, “We are entering an unprecedented period of growth for the crypto industry, driven by greater regulatory clarity and increasing institutional adoption. The UAE is exceptionally well-placed to benefit from these trends.”
Ripple’s Managing Director for the Middle East and Africa, Reece Merrick, echoed this sentiment, emphasizing that securing the DFSA license allows the company to meet growing demand for “faster, cheaper, and more transparent cross-border transactions.” DIFC Authority CEO His Excellency Arif Amiri added that the milestone presents new opportunities for Ripple’s expansion in the region and beyond.
Ripple’s Expanding Global Regulatory Footprint
This latest regulatory win adds to Ripple’s expanding list of over 60 global licenses, including a Major Payments Institution license from the Monetary Authority of Singapore and a New York Department of Financial Services Trust Charter. Ripple also holds a Virtual Asset Service Provider registration from the Central Bank of Ireland and multiple Money Transmitter Licenses in the U.S.
Ongoing Legal Battle with the SEC
Despite its success in Dubai, Ripple remains entangled in a legal battle with the U.S. Securities and Exchange Commission (SEC). Reports suggest that Ripple’s legal team is negotiating more favorable terms concerning an August 2023 district court ruling, which imposed a $125 million fine and restricted XRP sales to institutional investors.
Crypto journalist Eleanor Terret noted that the SEC’s evolving stance on enforcement could impact the case’s resolution, stating, “There’s no real playbook for this kind of situation, which may explain why this case is taking longer to resolve.”
🚨SCOOP: Two well-placed sources tell me that the @SECGov vs. @Ripple case is in the process of wrapping up and could be over soon.
— Eleanor Terrett (@EleanorTerrett) March 12, 2025
My understanding is that the delay in reaching an agreement is due to Ripple's legal team negotiating more favorable terms regarding the August…
XRP Price Performance
At the time of writing, XRP was trading at $2.23, reflecting a modest 2.32% increase in the last 24 hours, according to BeInCrypto data.
Also Read: Ripple vs. SEC Update: Is a Settlement Finally on the Horizon? Key Legal Battles Unfold
Ripple’s regulatory success in Dubai marks another crucial step in its global expansion, further positioning the UAE as a leader in blockchain innovation.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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