Ripple Secures UAE Crypto License, Expanding Global Reach

Ripple has received approval from the Dubai Financial Services Authority (DFSA) to offer regulated crypto payments and services in the UAE. This milestone makes Ripple the first blockchain-powered payments provider licensed by the DFSA.

CEO Brad Garlinghouse highlighted the rapid growth of the crypto industry, driven by increasing regulatory clarity and institutional adoption. He emphasized that the UAE’s proactive approach to tech and crypto innovation positions it as a key market for expansion.

Ripple has seen rising demand across the Middle East, with nearly 20% of its global customer base already operating in the region. The company expects stablecoin adoption to accelerate in the UAE, given its potential for real-time settlements. This could further boost Ripple’s RLUSD stablecoin, which has reached a market capitalization of $134 million.

The DFSA license adds to Ripple’s expanding list of over 60 global regulatory approvals. These include a Major Payments Institution license from the Monetary Authority of Singapore (MAS), a Virtual Asset Service Provider (VASP) registration from the Central Bank of Ireland, and Money Transmitter Licenses (MTLs) across multiple U.S. states.

Meanwhile, XRP has surged nearly 4% in the past 24 hours, outperforming Bitcoin (BTC), as reports suggest Ripple’s long-standing legal battle with the SEC is nearing a final settlement.

Ripple’s continued global expansion and regulatory approvals reinforce its position as a leading blockchain-based payments provider, further solidifying its role in the evolving digital finance landscape.