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
On May 1, Ripple shared insights highlighting a major regulatory achievement in the United Arab Emirates (UAE), where the Dubai Financial Services Authority (DFSA) granted it a license, making Ripple the first blockchain-based payments company to receive such approval.
The license allows Ripple to offer its cross-border payments platform, Ripple Payments, across the region—a development the company views as vital for its growth and for advancing digital asset adoption in the Middle East. The company noted the following:
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.
The company presented this milestone as a catalyst for greater innovation and growing trust in digital finance. Ripple stated that obtaining the license helps legitimize the practical use of digital assets in the Middle East and is likely to spark new financial products for both institutions and retail users. Ripple supports this transformation by providing dependable solutions in payments, custody, and stablecoins—key tools for banks, fintechs, and crypto firms looking to build and expand their digital asset strategies.
The Ripple established its regional presence by opening a Dubai office in 2020 and has since significantly expanded its operations across the Middle East, now serving 20% of its global client base. Supportive regulatory frameworks, growing enterprise adoption, and a young, tech-savvy population have fueled the region’s embrace of blockchain solutions.
The blockchain firm emphasized the practical impact of its newly acquired license within one of the world’s most important trade and remittance corridors and stated the following:
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.
Ripple is rolling out RLUSD, an enterprise-grade stablecoin backed by the U.S. dollar, alongside its provision of regulated payment services to deliver secure, compliant, and scalable blockchain-based financial solutions across the region.
