Blockchain payments company Ripple has secured a regulatory license from the Dubai Financial Services Authority (DFSA), becoming the first digital assets-enabled payments provider authorized to operate in the Dubai International Finance Centre (DIFC), the company announced today (Thursday).

Ripple Becomes First Blockchain Payments Provider Licensed by Dubai's Financial Regulator

The approval represents Ripple's first license in the Middle East and allows the company to offer regulated crypto payment services to businesses throughout the UAE, strengthening its position in a region where it already maintains about 20% of its global customer base.

This is a continuation of the regulatory moves initiated by the company in the Middle East late last year when, in October, it obtained an in-principle license to launch cross-border payment services.

“We are entering an unprecedented period of growth for the crypto industry, driven by greater regulatory clarity around the world and increasing institutional adoption,” said Brad Garlinghouse, Ripple's Chief Executive Officer. “Thanks to its early leadership in creating a supportive environment for tech and crypto innovation, the UAE is exceptionally well-placed to benefit.”

Research suggests strong regional appetite for blockchain -based payment solutions. A 2024 Ripple survey found that 64% of Middle East and Africa finance leaders were prioritizing faster payments and settlement times as blockchain's primary value proposition.

You may also like: Ripple News: SEC Delays Grayscale’s XRP ETF Decision as Franklin Templeton Joins the Race

UAE Wants to Become a Crypto Hub

The license arrives as the UAE continues positioning itself as a global hub for crypto innovation. The country hosts a $400 billion-plus international trade market and has attracted growing interest from both traditional financial institutions and crypto-native businesses seeking alternatives to conventional cross-border payment systems.

“This milestone not only highlights our commitment to fostering innovation, but also opens the door for Ripple to tap into new growth opportunities across the region and beyond,” said His Excellency Arif Amiri, DIFC Authority CEO.

Since establishing its regional headquarters in DIFC in 2020, Ripple has steadily expanded its Middle East presence. The company notes that over 82% of finance leaders in the Middle East and Africa region report high confidence in integrating blockchain solutions into their operations.

Growing Regulatory Portfolio

Reece Merrick, Ripple's Managing Director for Middle East and Africa, described the license as “a major milestone that will enable us to better serve the growing demand for faster, cheaper and more transparent cross-border transactions in one of the world's largest cross-border payments hubs.”

The UAE license adds to Ripple's growing regulatory portfolio, which now includes over 60 approvals worldwide. The company has previously secured licenses from Singapore's Monetary Authority, New York's Department of Financial Services, Ireland's Central Bank, and numerous U.S. state money transmitter authorities.

Ripple's RLUSD stablecoin, launched in late December on global exchanges, has already achieved a market capitalization exceeding $130 million. The company expects stablecoin adoption to accelerate in the UAE as businesses seek real-time settlement alternatives to traditional banking systems.