Ripple secures DFSA approval to expand payment services across the UAE and Middle East

• Ripple secures DFSA approval to offer end-to-end managed payment services, expanding its reach in the UAE and Middle East.
• Ripple’s UAE expansion strengthens its position as the first blockchain-powered payment provider licensed by the DFSA.
• Ripple renews its partnership with the DIFC Innovation Hub and expands collaboration with NYU Abu Dhabi to advance blockchain research.

Ripple has received in-principle approval from the Dubai Financial Services Authority (DFSA) to expand its payment services in the United Arab Emirates (UAE). This approval allows Ripple to offer end-to-end managed payment services, enhancing its operations across the Middle East. 

The decision highlights the company’s commitment to regulatory compliance and its focus on delivering efficient cross-border payment solutions. Ripple plans to integrate its payment system within the UAE’s financial sector, furthering its goal of streamlining digital asset transactions for businesses across the region.

Strengthened Presence in Dubai

This enables Ripple to operate from the Dubai International Financial Centre (DIFC), where its regional headquarters has been based since 2020. The UAE’s strategic location as a financial hub makes it an ideal place for Ripple to extend its services. 

The regulatory framework set by the DFSA aligns well with Ripple’s mission to facilitate cross-border payments. With this approval, Ripple will be the first blockchain-powered payment provider to secure licensing from the DFSA, positioning it to drive blockchain innovation across the Middle East, Africa, and South Asia.

Focus on Crypto Adoption

Ripple’s expansion reflects its broader mission to collaborate with regulators worldwide. The company holds over 55 licenses globally, including those from Singapore, New York, and Ireland. This latest approval from the DFSA strengthens Ripple’s commitment to regulatory compliance and boosts its presence in key markets. 

Over 20% of Ripple’s customers are based in the UAE, where the demand for cost-effective and fast cross-border payment solutions is growing. According to Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, the company is dedicated to meeting this demand by supporting the UAE’s vision to become a global fintech leader.

Continued Innovation Partnerships

As part of its expansion, Ripple has renewed its partnership with the DIFC Innovation Hub, linking developers with over 1,000 tech firms and venture capital entities. The company is also expanding its collaboration with NYU Abu Dhabi through its University Blockchain Research Initiative (UBRI), offering over $1 million to support local blockchain research and education. These efforts are key components of Ripple’s long-term strategy to promote blockchain adoption across financial services globally.