A New Step Forward for Ripple in the Middle East

Ripple has officially received approval from the Dubai Financial Services Authority (DFSA) to provide blockchain-based payment solutions at the Dubai International Financial Centre (DIFC). This is an important milestone, making Ripple the first blockchain payment company licensed to operate in this region.


With the license from DFSA, Ripple can access the UAE's $40 billion cross-border payments market – one of the fastest-growing financial sectors in the world.


Why is the UAE an Ideal Destination for Ripple?

Brad Garlinghouse, CEO of #Ripple , emphasized that the UAE has a significant advantage due to its open policies towards blockchain technology and crypto:



"Thanks to leading the way in creating an environment that supports technological innovation and cryptocurrency, the UAE is uniquely positioned to leverage this potential."



Previously, in October 2024, Ripple was granted a 'principle approval' license, allowing the company to begin offering services at the DIFC. Now, with a full license, Ripple can scale its operations more robustly.


The Middle Eastern Crypto Market is Growing Strongly

Since establishing its regional headquarters in the DIFC in 2020, Ripple has had an increasingly larger presence in the Middle East. Currently, nearly 20% of the company's global customers come from this region.


In November 2023, Ripple achieved a significant milestone when it was approved by the DFSA, allowing licensed companies in the DIFC to integrate XRP into their services. XRP became the first cryptocurrency asset approved by the DFSA, alongside Bitcoin (BTC), Ethereum, and Litecoin.


According to Chainalysis reports, from July 2023 to June 2024, the Middle East and North Africa (MENA) region accounted for 7.5% of the total global cryptocurrency transaction volume. The UAE is emerging as a crypto hub thanks to a clear legal framework and progressive policies.


Expanding Global Influence

With approval from the DFSA, Ripple now has over 60 licenses from regulators worldwide, including:



  • Major Payments Institution license from the Monetary Authority of Singapore (MAS).


  • Trust Charter from the New York Department of Financial Services (NYDFS).



Currently, XRP is trading at $2.25, up over 3% in the past 24 hours, according to data from CoinGecko.


Ripple and the Showdown with the SEC

Despite rapid expansion in the Middle East, Ripple is still facing a lawsuit from the U.S. Securities and Exchange Commission (SEC). The SEC claims that XRP is an unregistered security, but Ripple has denied this allegation.


In 2023, a federal court ruled in favor of Ripple, declaring that XRP is not a security when traded on exchanges. However, the company still faced a $125 million penalty related to XRP sales to institutions.


With changes in SEC leadership under the Trump administration, many experts predict that Ripple may reach a more favorable settlement in the future.