Ripple Labs Inc. Obtains a License from the Dubai Financial Services Authority (DFSA) to Offer Regulated Crypto Payments and Services

Announced on March 13, 2025, this authorization makes Ripple the first blockchain-enabled payments provider to obtain a license from the DFSA.

Cryptocurrency payment provider Ripple has reportedly secured regulatory approval from the Dubai Financial Services Authority (DFSA) to offer regulated crypto payments and services within the Dubai International Finance Centre (DIFC).

Announced on March 13, this authorization makes Ripple the first blockchain-enabled payments provider to obtain a license from the DFSA.

The license showcases Ripple’s commitment to the Middle East and broader push for compliance-driven, enterprise-grade crypto solutions. It also sets the stage for the company’s “compliance-first global payments product” to serve businesses in the United Arab Emirates (UAE).

Recognized as a global hub for cross-border remittances—boasting a market worth an estimated $40 billion—the UAE’s entry into this regulated space coincides with the region’s increasing interest in digital asset-based financial tools.

“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, Chief Executive Officer of Ripple.

Highlighting the significance of this new regulatory milestone, Arif Amiri, Chief Executive Officer of the DIFC, stated: “We are thrilled that Ripple is deepening their commitment to Dubai by securing a DFSA license that makes them the first blockchain-enabled payments provider in DIFC. 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.”

He added that the DIFC views forward-looking entities like Ripple as pivotal to shaping the future of finance and propelling greater adoption of blockchain solutions in the payments sector.

With its new authorization in hand, Ripple aims to facilitate faster, more transparent cross-border transactions.

According to a 2024 business survey conducted by Ripple, 64% of finance leaders in the Middle East and Africa (MEA) cite faster payments and settlements as the primary driver for incorporating blockchain-based currencies into their operations.

Seeming to reflect this trend, Reece Merrick, Ripple’s Managing Director for Middle East and Africa, highlighted the company’s ambitions.

“Securing this DFSA license is 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,” said Merrick.

“We’re grateful for the support of our partners at the DIFC, and we’re ready to hit the ground running with a growing local team and strong customer pipeline.”

Beyond cross-border payments, Ripple’s involvement in stablecoin innovation is also drawing attention.

Launched in December, the company’s RLUSD stablecoin reportedly surpassed $100 million in market capitalization. Stablecoins could play a key role in the UAE’s payment framework, especially considering the limitations of traditional banking systems, which often require several days to complete international transactions.

Overall, Ripple now has more than 60 regulatory approvals worldwide.

These include a Major Payments Institution license from the Monetary Authority of Singapore (MAS), a Trust Charter from the New York Department of Financial Services (NYDFS), a Virtual Asset Service Provider (VASP) registration from the Central Bank of Ireland, and Money Transmitter Licenses (MTLs) in multiple US states.

At press time, XRP traded at $2.26.