Ripple, a leading enterprise blockchain and crypto solutions provider, has achieved a significant milestone by securing a license from the Dubai Financial Services Authority (DFSA). This approval positions Ripple as the first blockchain-enabled payments provider licensed to operate within the Dubai International Financial Centre (DIFC). This marks a substantial expansion of its presence in the Middle East and underscores its commitment to global regulatory standards.
Ripple Payments momentum is building in the UAE. 🇦🇪 https://t.co/gFiwxXWfM5
Following our DFSA license, Zand Bank and @MamoPay are now live on Ripple Payments—bringing always-on, blockchain-powered cross-border payments to one of the world’s top remittance hubs.
— Ripple (@Ripple) May 19, 2025
Strategic Partnerships and Technological Advancements
Following the DFSA license acquisition, Ripple has onboarded Zand Bank and MamoPay onto its Ripple Payments platform. These partnerships aim to deliver blockchain-powered, always-on cross-border payments, addressing the inefficiencies of traditional systems such as high fees, lengthy settlement times, and a lack of transparency.
Ripple’s technology leverages the XRP Ledger and its native digital asset, XRP, to facilitate real-time settlement of cross-border transactions. Additionally, the company has introduced RLUSD, a stablecoin designed to provide further stability and efficiency in international payments. Launched in December 2024, RLUSD has already surpassed a market capitalization of $130 million, indicating strong market adoption.
Market Potential and Regional Impact
The UAE’s cross-border payments market is valued at approximately $40 billion, presenting a significant opportunity for Ripple’s solutions. A 2024 survey by Ripple revealed that 64% of finance leaders in the Middle East and Africa consider faster payments and settlement times as the primary advantage of incorporating blockchain-based currencies into their cross-border payment operations.
Ripple’s expansion aligns with the UAE’s strategic vision to become a global hub for financial technology and innovation. The company’s partnerships and technological advancements are poised to enhance the efficiency and transparency of cross-border payments, benefiting businesses and consumers alike.
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Commitment to Regulatory Compliance and Innovation
Ripple’s DFSA license adds to its growing list of over 60 regulatory approvals worldwide, including licenses from the Monetary Authority of Singapore, the New York Department of Financial Services, and the Central Bank of Ireland. Ripple’s focus on regulatory compliance guarantees its solutions are secure and reliable.
In addition to its regulatory achievements, Ripple has invested in fostering blockchain and digital asset innovation in the UAE. The company has partnered with the DIFC Innovation Hub to connect emerging developers with an extensive innovation network. It has renewed its strategic partnership with NYU Abu Dhabi through the University Blockchain Research Initiative, increasing funding for research projects and student initiatives.
Ripple’s expansion in the UAE, marked by its DFSA license and strategic partnerships, signifies a transformative step in the evolution of cross-border payments in the region. Ripple’s blockchain solutions can boost international transactions’ efficiency, transparency, and inclusivity, supporting the UAE’s fintech ambitions.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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