Ripple's Regulatory Triumph in the UAE Enhances Crypto Payment Prospects
by aria-crypto.com
March 13, 2025 at 20:02
Ripple's Regulatory Triumph in the UAE Enhances Crypto Payment Prospects
Ripple has successfully obtained a vital regulatory license from the Dubai Financial Services Authority (DFSA), marking a significant milestone as the first blockchain-enabled payments provider to be licensed within the Dubai International Finance Centre (DIFC). This approval, announced on March 13, 2025, positions Ripple to offer fully regulated cross-border crypto payment services in the UAE, tapping into the region's expansive $40 billion cross-border payments market. Brad Garlinghouse, CEO of Ripple, emphasized the exceptional alignment of UAE's progressive policies with the current period of rapid growth and increasing institutional adoption in the crypto industry. This development is set to boost the acceptance and use of Ripple's RLUSD stablecoin, launched in December of the previous year, which facilitates real-time settlement for international transactions and remittances. With strong support from local regulatory bodies and over 60 global regulatory approvals including major licenses from the Monetary Authority of Singapore and the New York Department of Financial Services, Ripple is poised to enhance financial operations in the Middle East and beyond.
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