Ripple has achieved a major regulatory achievement by becoming the first blockchain-based payment provider to receive approval from the Dubai Financial Services Authority (DFSA). This landmark development, announced on March 13, 2025, follows the company’s initial in-principle clearance, allowing Ripple to extend its services in the UAE.
The new license enables Ripple to address the increasing demand for seamless, cost-effective, and transparent payment solutions, particularly in the critical regions of global trade and remittances. Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, highlighted the significance of this regulatory approval, noting its importance in enhancing Ripple’s ability to cater to a rapidly growing market in the Middle East.
Ripple’s approval in Dubai adds to its already extensive regulatory portfolio, with the company now holding over 60 licenses globally. 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), registration as a Virtual Asset Service Provider (VASP) with the Central Bank of Ireland, and multiple Money Transmitter Licenses (MTLs) across the United States.
Ripple’s Strategic Focus on the UAE
This achievement marks Ripple’s first full regulatory license in the Middle East, reinforcing its commitment to compliance and financial innovation. The UAE, being a central player in global finance, is a strategic location for Ripple as it continues to expand its presence. According to World Bank data, the UAE’s cross-border payments market is valued at approximately $40 billion, making it a key region for international financial transactions.
Ripple’s approval in Dubai comes at a time when both traditional financial institutions and digital asset firms are seeking more efficient alternatives to outdated payment infrastructures. With the demand for faster, cheaper, and more transparent international transactions increasing, Ripple’s enterprise-grade solutions are poised to meet these needs.
Since establishing its regional headquarters at the Dubai International Financial Centre (DIFC) in 2020, Ripple has strengthened its foothold in the Middle East, a region that already represents 20% of its global customer base. The new DFSA license is expected to accelerate Ripple’s growth in the Middle East, positioning it for success in one of the world’s most dynamic and active financial corridors.
This regulatory approval underscores Ripple’s ongoing commitment to establishing itself as a leader in cross-border payments, as the company continues to expand its reach and solidify its presence in key global markets.