Ripple has just received full regulatory approval from the Dubai Financial Services Authority (DFSA) to offer cross-border cryptocurrency services in the United Arab Emirates (UAE).
On March 13, Ripple announced that it had obtained its license from the DFSA, allowing it to operate within the Dubai International Financial Center (DIFC), a UAE free economic zone with its own tax and regulatory systems.
Subscribe to our Telegram channel to get weekly short digests about events that shape the crypto world
This comes nearly six months after Ripple initially received approval in principle for the DFSA license.
On October 1, 2024, Ripple disclosed its efforts to obtain the DFSA license to introduce its digital asset infrastructure in the UAE.
With this license, Ripple can now offer its global blockchain-based payment solutions to businesses in the UAE.