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Ripple received regulatory approval from Dubai’s Financial Services Authority (DFSA) to offer cross-border crypto payments.
The approval makes Ripple the first blockchain payments provider to operate in the Dubai International Financial Center (DIFC), the crypto company said in a March 13 announcement.
The DIFC is an economic zone that has its own tax policies and regulatory framework.
Ripple’s crypto-token XRP reacted positively to the development. CoinMarketCap data shows that the altcoin rose over 2% in the last 24 hours to trade at $2.22 as of 1:29 a.m. EST.
Ripple Regulatory Approvals Gain Momentum
The DFSA license adds to Ripple’s growing list of regulatory approvals across the globe.
Huge news 🔥 @Ripple is now DFSA licensed to offer regulated crypto payments in the @DIFC bringing the speed and efficiencies of blockchain to one of the world’s biggest trade and cross-border payments hubs.
A big thank you to our partners at @DIFC and the DFSA for their early…
— Reece Merrick (@reece_merrick) March 13, 2025
So far, the fintech has received regulatory approvals such as the Major Payments Institution license from the Monetary Authority of Singapore (MAS), the New York Department of Financial Services (NYDFS) Trust Charter, and a Virtual Asset Service Provider (VASP) registration from the Central Bank of Ireland, according to the announcement.
Ripple CEO Says Crypto Industry Entering “Unprecedented Period Of Growth”
Ripple’s DFSA license comes after the company performed a 2024 Business Survey.
It found that 64% of Middle East and Africa (MEA) finance leaders see faster payments and lower settlement times as the biggest value proposition for blockchain technology.
World Bank data also shows that the UAE is home to a $40 billion cross-border payments market, according to the company’s announcement.
Ripple CEO Brad Garlinghouse said the Web3 space is entering a period of “unprecedented growth, driven by greater regulatory clarity around the world and increasing institutional adoption.”
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