Ripple Gains Regulatory Approval to Deliver Crypto Payment Services in Dubai

Ripple has secured a key regulatory license from the Dubai Financial Services Authority (DFSA), allowing the company to operate legally as a blockchain-based payments provider in the Dubai International Financial Centre (DIFC). This approval makes Ripple the first company of its kind to receive such authorization in the DIFC, reinforcing its expanding presence in the Middle East and its approach to regulatory compliance in global markets.

The license enables Ripple to offer its compliance-focused crypto payments solutions to businesses in the United Arab Emirates, marking a step forward for the company’s activities in the region. This move follows a growing interest among both crypto-native firms and traditional financial institutions in the Middle East, who are actively seeking efficient alternatives to traditional cross-border payments. High costs, delays in settlement, and limited transparency remain key challenges in legacy systems. A business survey conducted by Ripple in 2024 found that 64% of finance leaders in the Middle East and Africa (MEA) region identify faster payments and settlement as the most valuable benefit of using blockchain-based currencies for cross-border transactions.

Speaking about the development, Brad Garlinghouse, CEO of Ripple, said, “We are entering an unprecedented period of growth for the crypto industry, driven by greater regulatory clarity around the world and increasing institutional adoption.” He also emphasized the supportive regulatory approach taken by the UAE, describing it as “exceptionally well-placed to benefit” from current global trends.

The UAE is recognized as a major hub for outbound finance, with international trade flows exceeding $400 billion annually. Since establishing its regional headquarters in the DIFC in 2020, Ripple has increased its focus on the Middle East, where approximately 20% of its global customer base is already located. According to the same 2024 study, over 82% of finance leaders in the MEA region said they are either “very or extremely confident” in integrating blockchain technology into their businesses.

Commenting on Ripple's licensing, Arif Amiri, CEO of DIFC Authority, noted that the development “not only highlights our commitment to fostering innovation, but also opens the door for Ripple to tap into new growth opportunities across the region and beyond.” He reaffirmed DIFC’s intention to support companies that contribute to the advancement of financial services through technology.

Reece Merrick, Ripple’s Managing Director for Middle East and Africa, described the license as a significant milestone, stating that it will help the company meet increasing demand for “faster, cheaper and more transparent cross-border transactions in one of the world’s largest cross-border payments hubs.”

The expansion of payment-focused crypto infrastructure is also expected to impact stablecoin adoption in the UAE, where the need for real-time settlement continues to grow. Ripple’s own stablecoin, RLUSD, which launched in late December on global exchanges, has already reached a market cap of over $130 million.

This latest approval adds to Ripple’s existing set of more than 60 regulatory licenses worldwide. These include a Major Payments Institution license from the Monetary Authority of Singapore (MAS), a Trust Charter from the New York Department of Financial Services (NYDFS), a Virtual Asset Service Provider (VASP) registration from the Central Bank of Ireland, and multiple Money Transmitter Licenses (MTLs) across various U.S. states.

By working in close coordination with regulators and policymakers globally, Ripple aims to continue offering digital asset infrastructure that complies with local rules while addressing real-world needs in the financial industry.