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In a significant development, Ripple, a leading crypto payments infrastructure provider, has received an in-principle license approval from the Dubai Financial Services Authority (DFSA).

This approval marks a crucial step for Ripple to establish its presence in the UAE.

The DFSA’s in-principle license is a prerequisite for obtaining a full license in Dubai. Once fully approved, Ripple will be able to offer cross-border payment services for both fiat and digital assets within the Dubai International Financial Center (DIFC).

Ripple’s statement highlighted that this milestone significantly strengthens its global footprint as a regulated entity, enabling the introduction of seamless cross-border payment services, including Ripple Payments Direct (RPD), in the UAE.

The company is on track to become the first blockchain-enabled payment services provider licensed by the DFSA and plans to deploy its enterprise-grade digital asset infrastructure in the UAE.

Brad Garlinghouse, Ripple’s CEO, commented, “With its forward-thinking regulatory approach and clear guidance for innovative businesses seeking to invest and scale, the UAE is positioning itself as a global leader in this new era of financial technology.”

Ripple also intends to use Dubai as a strategic hub to access the rapidly growing crypto markets across the Middle East, Africa, and South Asia.

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