Ripple secures DFSA license for UAE crypto payment services

Ripple received approval from the Dubai Financial Services Authority to provide regulated cryptographic payment services to the Dubai International Financial Center.

That’s ripple (Xrp) The first payment company fed by the blockchain authorized by the DFSA. According to the press release published On March 13, the license allows companies to use Cryptographic Payment Solutions in Ripple. Ripple says that this will help improve cross -border transactions by making them faster and cheaper.

Ripple has been in water since 2020, with its regional headquarters in the DIFC. About 20% of its global customers are in the Middle East. With a global commercial sector worth more than $ 400 billion, water offer a major opportunity for blockchain -based payment systems.

According to Ripple, 64% of financial leaders in the Middle East and Africa consider faster payments as the greatest advantage of the adoption of blockchain. The CEO of the DIFC authority, His Excellency, Arif Amiri, praised the expansion of Ripple, saying that Dubai is committed to supporting the innovation of the blockchain.

Reece Merrick, Director General of Ripple for the Middle East and Africa, said that the DFSA license will allow Ripple to better serve companies needing faster and more transparent payments. Ripple also expects more companies to start using stablecoins for instant transactions.

“Securing this DFSA license is an important step which will allow us to better meet the growing demand for faster, cheaper and more transparent cross -border transactions in one of the largest cross -border payment centers in the world.”

– Reece MerrickCEO of Ripple for the Middle East and Africa

Since March 13, Ripple has obtained more than 60 international licenses, including those in Singapore, Ireland and several American states. Company has spear Rlusd, whose market capitalization has increased to more than $ 130 million since December, as part of its accent on stablescoins.

Ripple has also progressed in other areas. The Bank of England is currently essay Ripple’s inter -ledger protocol for faster cross -border payments. Meanwhile, in the United States, interest in ETF XRP increases. Asset managers, including Bitwise, Grayscale, Franklin Templeton and 21Shares, have filed ETF XRP and are on hold Approval of the Securities and Exchange Commission.