Dubai, UAE – In a significant milestone, Ripple, a leading provider of digital asset infrastructure, has received in-principle approval from the Dubai Financial Services Authority (DFSA) to expand its services from the Dubai International Financial Centre (DIFC). This achievement positions Ripple as a regulated entity within the UAE and allows the company to introduce its innovative cross-border payment solutions, including Ripple Payments Direct (RPD), to the region.
With DFSA’s authorisation, Ripple is set to deploy its enterprise-grade digital asset infrastructure to a broader customer base across the UAE, aligning with the company’s mission to offer businesses faster, more cost-effective, and efficient cross-border payment services. This expansion is supported by Ripple’s commitment to regulatory compliance and investments in key infrastructure components such as liquidity, best-in-class custody solutions, and seamless on/off-ramps between fiat and digital assets.
“Blockchain and crypto technologies are here to stay,” said Brad Garlinghouse, CEO of Ripple. “The UAE, with its forward-thinking regulatory approach and clear guidance for innovative businesses, is establishing itself as a global leader in this new era of financial technology.”
Ripple will become the first blockchain-enabled payment services provider to be licensed by the DFSA, the independent regulator of financial services operating in or from the DIFC.
Driving Innovation in the UAE Financial Sector
The in-principle licence from the DFSA is a testament to Ripple’s commitment to expanding its presence in the Middle East. Ripple first established its regional headquarters in Dubai in 2020 and has continued to invest in the region, drawn by the UAE’s regulatory clarity and strategic position as a global financial hub.
Dubai’s location and the DIFC’s robust legal and regulatory framework have made it an attractive destination for international businesses. Salmaan Jaffery, Chief Business Development Officer of the DIFC Authority, said, “We are committed to fostering a future-focused financial ecosystem that supports innovation and growth. The DIFC’s framework, developed over two decades, makes Dubai an ideal hub for global businesses looking to make a lasting impact. We are proud to welcome Ripple’s continued expansion as they work to drive the growth of blockchain technology in the region.”
Global Compliance and Collaboration
Ripple’s new in-principle approval from the DFSA is part of its broader global strategy to collaborate with regulators and policymakers. With over 55 licences worldwide, including from the Monetary Authority of Singapore (MAS), the New York Department of Financial Services (NYDFS), and the Central Bank of Ireland (CBI), Ripple continues to prioritise regulatory compliance as it drives the adoption of blockchain and crypto technologies.
Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, said, “This is a pivotal moment for Ripple’s operations in the Middle East. The DFSA is a globally renowned independent regulator, and we are delighted to have received their in-principle approval. Over 20% of Ripple’s global customer base is located in the UAE, and as we expand our services, we are meeting the growing demand for more efficient cross-border payment solutions. We are excited to support the UAE’s vision to become a leading global crypto and fintech hub.”
Strengthening Blockchain Innovation in the UAE
Ripple’s expansion aligns with its commitment to accelerating crypto and blockchain adoption. Recently, Ripple announced a partnership with the DIFC Innovation Hub as part of its global 1B XRP Fund program, which connects emerging developers with the DIFC’s innovation network of over 1,000 tech firms, digital labs, and venture capital entities. Additionally, Ripple has renewed its strategic partnership with NYU Abu Dhabi through its University Blockchain Research Initiative (UBRI), increasing its total funding grant to over $1 million to support research projects and student initiatives aimed at advancing blockchain technology.
As Ripple continues to expand in the Middle East, it remains dedicated to fostering financial innovation and driving institutional adoption of blockchain technologies across the region.
