Ripple has taken a significant step in its global expansion by receiving approval from the Dubai Financial Services Authority (DFSA) to broaden its services in the United Arab Emirates (UAE).
This marks a critical milestone as Ripple strengthens its position in the Middle East, leveraging Dubai’s strategic location as a financial hub.
With this approval, Ripple is set to offer enhanced cross-border payment solutions through its Ripple Payments Direct (RPD) platform.
The company aims to provide faster and more cost-effective payment options to clients across the UAE, focusing on efficient fiat-to-digital asset transactions.
Ripple’s expansion aligns with its broader goal of improving global payment infrastructure using blockchain technology.
Ripple CEO Brad Garlinghouse praised the UAE’s progressive regulatory environment, noting that its forward-thinking approach to blockchain and cryptocurrency has made it a leader in financial technology innovation.
This regulatory support, coupled with Ripple’s investment in liquidity and custody solutions, will allow the company to extend its reach to a larger client base across the Middle East, Africa, and South Asia.
Ripple’s in-principle approval from the DFSA follows the establishment of its regional headquarters in Dubai in 2020, signalling its long-term commitment to the region.
The company is the first blockchain-based payment provider to receive such approval from the DFSA, positioning itself to play a key role in reshaping the UAE’s financial landscape.
Salmaan Jaffery, Chief Business Development Officer of the Dubai International Financial Centre (DIFC), emphasized Dubai’s focus on fostering an innovative financial ecosystem.
He expressed confidence that Ripple’s expansion would drive blockchain adoption and further solidify Dubai’s status as a global financial leader.
This approval comes at a time when Dubai’s Virtual Asset Regulatory Authority (VARA) has introduced stricter rules for crypto companies, requiring transparency in marketing and investor protection.
