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Ripple has secured in-principle approval from the Dubai Financial Services Authority (DFSA) to expand its services from the Dubai International Financial Centre (DIFC).
This milestone significantly strengthens Ripple’s global footprint as a regulated entity and enables the introduction of seamless cross-border payment services, including Ripple Payments Direct (RPD), in the United Arab Emirates (UAE).
With DFSA Authorisation, Ripple is set to roll out its enterprise-grade digital asset infrastructure to a broader customer base in the UAE. This expansion is aligned with Ripple’s mission of providing businesses with faster, cost-effective and more efficient cross-border payment solutions, by combining robust regulatory compliance with ongoing investments in critical infrastructure components such as liquidity, best-in-class custody and on/off-ramps between fiat and digital assets.
Brad Garlinghouse
“Blockchain and crypto technologies are here to stay,”
said Brad Garlinghouse, Ripple’s Chief Executive Officer.
“With its forward-thinking regulatory approach and clear guidance for innovative businesses seeking to invest and scale, the UAE is positioning itself as a global leader in this new era of financial technology.”
Ripple will be the first blockchain-enabled payment services provider to be licenced by the DFSA, the independent regulator of financial services conducted in or from the DIFC.
The new in-principle licence is part of Ripple’s broader strategy to collaborate with regulators and policymakers worldwide to integrate compliant blockchain and crypto technologies that complement the existing financial system. Ripple, which holds over 55 licences worldwide, including from the Monetary Authority of Singapore (MAS), the New York Department of Financial Services (NYDFS), and the Central Bank of Ireland (CBI), continues to prioritise regulatory compliance in order to support blockchain adoption in financial services.
Expanding its commitment to accelerating crypto and blockchain adoption, Ripple’s recently announced partnership with the DIFC Innovation Hub, part of the company’s global 1B XRP Fund program, strengthens blockchain and digital asset innovation in the UAE by connecting emerging developers with DIFC’s extensive innovation network, which includes over 1,000 tech firms, digital labs, and venture capital entities.
Additionally, Ripple has renewed its strategic partnership with NYU Abu Dhabi through the University Blockchain Research Initiative (UBRI), increasing the total funding grant to over $1 million to support NYU Abu Dhabi’s research projects and student initiatives. These projects reflect Ripple’s ongoing commitment to advancing blockchain research and skills development and supporting local financial innovation.
