Ripple's DFSA License & Cross-Border Crypto Payments: Infographic Overview - 95dubai.com

Ripple Secures Dubai DFSA License for Cross-Border Crypto Payments in DIFC

The Dubai Financial Services Authority (DFSA) has granted Ripple, one of the main players in blockchain technology, an in-principle license. The FCA giving its approval is a big step toward providing its cross border payment services under the Dubai International Financial Center (DIFC). When fully licensed, Ripple will allow Dubai to serve as a hub for cross border payments for both fiat and digital currencies in the fast growing Middle East crypto and blockchain landscape.

This is all part of Ripple’s plan to use Dubai’s forward thinking regulatory environment. By setting up its base in DIFC, Ripple wants to get its share in the fast developing crypto markets in Middle East, Africa and South Asia. With its emphasis on enterprise grade digital asset infrastructure, the company is it to expectably enhance its global footprint.

Ripple's DFSA License & Cross-Border Crypto Payments: Infographic Overview - 95dubai.com
Ripple’s DFSA License & Cross-Border Crypto Payments: Infographic Overview – 95dubai.com

It is also consistent with Dubai’s ambition to be the lead nation in financial technology. The region has the backing of a well regulated environment and has access to loads of money from public as well as private traction for the businesses like the ripple to scale operations. With Dubai playing a key part in Ripple’s strategy, it is also important as part of its wider plan of increasing cross border payment systems across the world.

Ripple’s Cross-Border Payments & DFSA License Impact

It is also an example of this development which highlights UAE’s intention to encourage innovation in the fintech and blockchain arena. Integrating Ripple’s infrastructure into the local financial ecosystem will see Dubai further cement itself as a global financial hub and international collaboration in the growing crypto economy​.

Ripple Secures Dubai DFSA License: Test Your Knowledge


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Cross-border payments
Crypto exchange services
Traditional banking services




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Middle East
Africa
Asia

Reference List:

  1. Sarkar, Arijit. Ripple Receives In-Principle License Approval in Dubai. Cointelegraph, October 1, 2024.
  2. Cointelegraph. Ripple Joins BIS Cross-Border Payments Task Force. Cointelegraph, August 10, 2023.
  3. Cointelegraph. Ripple Moves Closer to Offering Cross-Border Payments in Dubai with DFSA License. Cointelegraph, October 1, 2024.
  4. O’Sullivan, Josh. Ripple Secures Dubai DFSA Approval for Cross-Border Crypto Services. Cointelegraph, October 1, 2024.