Ripple Obtains Official License from Dubai Financial Services Authority... "First Case of DFSA Authorization"

Ripple has obtained an official regulatory license from the Dubai Financial Services Authority (DFSA).

On the 13th (local time), Ripple announced through a press release that "we have received approval from the DFSA to provide regulated virtual asset (cryptocurrency) payments and services within the Dubai International Financial Centre (DIFC). This makes Ripple the first blockchain-based payment provider to receive authorization from the DFSA."

This approval is the first license Ripple has obtained in the Middle East region. Through this, companies within the United Arab Emirates (UAE) will be able to use Ripple's regulatory-compliant global payment solutions.

Regarding this, Brad Garlinghouse, Ripple's Chief Executive Officer (CEO), emphasized, "As regulatory clarity increases globally and institutional adoption of virtual assets grows, the industry is entering an unprecedented period of growth," adding, "The UAE has created a supportive environment for technology and virtual asset innovation, making it one of the countries best positioned to reap those benefits."