Ripple secures DFSA license to expand crypto payments in UAE’s $400 billion trade market

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Written on Mar 13, 2025

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Ripple has over 60 regulatory approvals globally.
RLUSD stablecoin reaches $130 million market capitalization.
XRP ETFs from major asset managers await SEC approval.

Ripple has gained a key regulatory licence in Dubai, reinforcing its position as a leader in blockchain-based payments.

The Dubai Financial Services Authority (DFSA) granted Ripple a licence on March 13, allowing businesses in the UAE to use its crypto payment solutions.

This approval enables Ripple to facilitate faster and more cost-effective cross-border transactions in a region where trade exceeds $400 billion.

The licence marks a strategic win for Ripple, which has operated in the UAE since 2020, with its regional headquarters in the Dubai International Financial Centre (DIFC).

The Middle East is a major market for Ripple, accounting for around 20% of its global customer base.

UAE as a crypto hub

The DFSA licence allows Ripple to offer its blockchain-based payment solutions to businesses in the UAE, a country actively embracing digital assets.

According to Ripple, 64% of finance leaders in the Middle East and Africa believe faster payments are the biggest advantage of blockchain technology.

Dubai has positioned itself as a hub for financial innovation, with DIFC Authority CEO His Excellency Arif Amiri stating that the city remains committed to fostering blockchain advancements.

The DFSA’s approval of Ripple underscores the UAE’s ambition to lead in blockchain adoption and cross-border payments.

Ripple’s managing director for the Middle East and Africa, Reece Merrick, emphasised that the DFSA licence will help the company serve businesses requiring efficient payment solutions.

He also noted that more UAE companies are expected to adopt stablecoins for instant transactions.

Ripple’s global expansion

Ripple’s regulatory approval in Dubai is part of its broader global expansion strategy.

As of March 13, the company has secured more than 60 licences worldwide, including approvals in Singapore, Ireland, and multiple US states.

Along with expanding its regulatory footprint, Ripple has launched RLUSD, a stablecoin that has grown to over $130 million in market capitalisation since December.

The company’s push into stablecoins aligns with the increasing demand for faster and more stable digital assets in cross-border transactions.

Institutional interest in XRP

Beyond its licensing and stablecoin initiatives, Ripple is seeing increased interest in XRP from institutional investors.

Several asset managers, including Bitwise, Grayscale, Franklin Templeton, and 21Shares, have filed for XRP exchange-traded funds (ETFs).

These firms are awaiting approval from the US Securities and Exchange Commission (SEC), which could drive further adoption of XRP in mainstream finance.

Meanwhile, the Bank of England is testing Ripple’s Interledger Protocol to enhance the efficiency of international payments.

This development indicates growing institutional confidence in Ripple’s technology and its potential to reshape global finance.

The UAE’s regulatory approval, coupled with Ripple’s expanding global footprint and institutional interest, solidifies its role in the future of blockchain-powered financial services.