Ripple has gained in-principle approval from the Dubai Financial Services Authority (DFSA) to expand its financial services in the UAE, enhancing its role in the region’s cross-border payment ecosystem.
This approval allows Ripple to offer comprehensive payment solutions through the Dubai International Financial Centre (DIFC). CEO Brad Garlinghouse highlighted the UAE’s favorable crypto regulations, which have established the country as a global hub for digital asset firms.
With this regulatory milestone, Ripple aims to implement its digital asset infrastructure across the UAE, making its services more accessible.
This expansion aligns with Ripple’s strategy to increase its global presence, particularly as it navigates ongoing legal challenges with the SEC in the U.S. Since establishing its regional headquarters in Dubai in 2020, Ripple has focused on solidifying its position in the Middle East.
The recent approval positions Ripple to become a significant player in the UAE’s financial sector, allowing it to utilize the supportive environment for crypto innovations. By expanding its customer base and enhancing its digital payment services, Ripple is committed to delivering efficient and secure payment solutions worldwide.
