Ripple has become the first blockchain-enabled payments provider to receive a licence from the Dubai Financial Services Authority (DFSA). This approval allows the company to offer regulated crypto payment services in the Dubai International Financial Centre (DIFC), further strengthening its role in the region’s financial sector.
Since establishing its Middle East headquarters in DIFC in 2020, Ripple has expanded its presence significantly. Today, more than 20% of its global customer base operates in the region. The UAE’s strong demand for efficient cross-border payments has made it a key market for blockchain solutions.
Driving Crypto Adoption and Financial Innovation
Ripple CEO Brad Garlinghouse praised the UAE’s leadership in financial innovation. He highlighted the country’s supportive environment for crypto and blockchain, noting that the region is well-positioned to benefit from increasing institutional adoption and regulatory clarity.
The UAE is a major hub for global finance, with over $400 billion in international trade. A 2024 survey by Ripple found that 64% of finance leaders in the Middle East and Africa (MEA) see faster payment processing as the biggest advantage of blockchain-based transactions.
A Step Forward for Blockchain-Powered Finance
Reece Merrick, Ripple’s Managing Director for MEA, emphasized the importance of the DFSA licence. He stated that Dubai has created a progressive and well-defined regulatory framework for digital assets. This approval will enable Ripple to meet the rising demand for secure, low-cost, and transparent cross-border transactions.
Ripple now holds more than 60 regulatory approvals worldwide. These include licences from the Monetary Authority of Singapore (MAS), the New York Department of Financial Services (NYDFS), and the Central Bank of Ireland.
Arif Amiri, CEO of DIFC Authority, welcomed Ripple’s expansion, underscoring Dubai’s commitment to fostering blockchain innovation. He stated that the approval not only strengthens the city’s status as a global financial hub but also accelerates the adoption of blockchain technology in payments.
With this licence, Ripple is set to drive further growth in the UAE’s fintech sector. The move reinforces the country’s position as a leader in digital finance and blockchain-powered payments.
