The first DFSA license for blockchain-based payments in the UAE was secured by Ripple, granting access to a $400 billion trade hub through regulated cross-border services and the RLUSD stablecoin.
Ripple Sets Sights on $400B UAE Trade Hub With Licensed Cross-Border Payment Services
Insights were shared by Ripple on May 1, emphasizing a significant regulatory milestone in the United Arab Emirates (UAE), where licensing was granted by the Dubai Financial Services Authority (DFSA), making it the first blockchain-based payments firm to receive such approval.
Ripple was permitted under the license to provide its cross-border payments platform, Ripple Payments, throughout the region—a development regarded as crucial for both the firm and the advancement of digital asset adoption in the Middle East. The following was noted by the company:
Ripple is the first blockchain-powered payments provider to be licensed by the Dubai Financial Services Authority (DFSA) to bring its flagship cross-border payments solution, Ripple Payments, to businesses across the region.
This milestone was presented by the company as a driving force for expanded innovation and increased trust in digital finance. Ripple stated that the achievement of this license contributes to legitimizing practical uses of digital assets within the Middle East and is expected to give rise to innovative financial offerings for both institutions and retailers. The transformation is being supported by Ripple through the delivery of reliable solutions in payments, custody, and stablecoins—essential tools for banks, fintechs, and crypto enterprises aiming to develop and scale their digital asset strategies.
Ripple’s regional presence was established with the opening of its Dubai office in 2020, and since then, its footprint in the Middle East has been significantly expanded, now representing 20% of the company’s global clientele. The adoption of blockchain solutions in the region has been driven by supportive regulatory frameworks, increasing enterprise integration, and a youthful, technology-oriented population.
The practical impact of its newly acquired licensing status within one of the world’s most significant trade and remittance corridors was emphasized by the blockchain firm, which stated:
DFSA licensing approval allows Ripple to offer fully regulated cross-border crypto payments in the UAE. For businesses operating in the $400B trade hub, one of the world’s largest, and a $40B remittance market, this means expanded access to faster, more cost-effective and transparent international transactions.
Alongside the provision of regulated payment services, the rollout of RLUSD—an enterprise-grade stablecoin backed by the U.S. dollar—is being undertaken by Ripple to enhance secure, compliant, and scalable blockchain-driven financial solutions across the region.
