- Ripple Labs secures key DFSA license for regulated blockchain payments across UAE, eyes $400B trade
- Ripple President Monica Long held high-level talks with UAE officials at influential Dubai Fintech Summit
- Ripple’s Middle East presence expands (nearly 20% global clients); DIFC partnership fuels growth
Ripple Labs is rapidly expanding its role in the Middle East’s fintech ecosystem. The company held high-level talks with United Arab Emirates (UAE) officials at the Dubai Fintech Summit this week. The central theme of the discussions was to boost digital payment infrastructure and accelerate blockchain-driven financial innovation.
Ripple President Monica Long led the company’s delegation, who emphasized the company’s growing commitment to the region. This latest meeting signals Ripple’s long-term investment in the UAE’s fast-evolving digital economy.
Ripple Expands Middle East Presence, Leverages UAE’s Pro-Crypto Stance
Since establishing its Dubai office in 2020, Ripple has consistently expanded its footprint in the Middle East. The region now makes up nearly 20% of Ripple’s global customer base.
The UAE’s proactive stance on digital assets has notably made it a preferred destination for leading blockchain firms. Dubai’s robust regulatory framework and its strong support for innovation continue to attract international technology leaders, including Ripple.
Related: Ripple Stresses Political Engagement as Key to Crypto Progress
Ripple’s engagement with the Dubai International Financial Centre (DIFC) has been key to its regional growth. Last year, Ripple joined hands with the DIFC Innovation Hub, a platform hosting over 1,000 startups, venture capital firms, and regulators. This partnership focuses on helping early-stage companies adopt blockchain and crypto technologies.
Brad Garlinghouse, Ripple’s CEO, has consistently underlined the importance of the UAE in Ripple’s global strategy. He believes the region’s forward-thinking policies offer the perfect ground for XRPL’s broader adoption.
DFSA License a Major Regulatory Win, Unlocks $400B UAE Trade Corridor
In a major regulatory breakthrough, Ripple recently received a license from the Dubai Financial Services Authority (DFSA). This license enables Ripple to offer regulated blockchain payment services across the UAE.
This regulatory win consequently allows Ripple to access a trade corridor estimated to be worth $400 billion. Businesses operating in the region can now utilize Ripple Payments for efficient and seamless cross-border transactions, benefiting from enhanced security and regulatory compliance.
Related: SEC and Ripple Strike Settlement: What’s Inside the New Deal?
Moreover, this regulatory win strengthens Ripple’s case as a global payments leader. It also paves the way for greater adoption of RLUSD, Ripple’s stablecoin, in the region’s payment infrastructure. Besides improving efficiency, the move aligns with the UAE’s broader goals of becoming a digital financial powerhouse.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
