The post Ripple Secures Key In-Principle Approval from DFSA to Expand in UAE appeared on BitcoinEthereumNews.com.

Ripple has obtained in-principle approval from the Dubai Financial Services Authority (DFSA) to expand its blockchain-based payment services in the United Arab Emirates (UAE). This approval allows Ripple to operate from the Dubai International Financial Centre (DIFC), significantly boosting its presence as a regulated entity within the Middle East. Ripple Gains Ground in UAE with Strategic DFSA Authorization In a recent post on X platform, the XRP company revealed its achievement of securing in-principle approval from the DFSA. This critical milestone allows the company to roll out its advanced payment solutions, such as Ripple Payments Direct (RPD), within the UAE. The expansion is part of a broader strategy to enhance the firm’s global footprint by integrating compliant blockchain technologies across major financial hubs. Salmaan Jaffery, Chief Business Development Officer of the DIFC Authority, highlighted the strategic significance of this approval. Jaffery stated welcomed the the developments stating, “At DIFC, we are committed to fostering a future-focused financial ecosystem that supports innovation and growth. We are proud to welcome Ripple’s continued expansion in the DIFC as they work to drive the growth of blockchain technology in the region.” More so, with the new DFSA approval, the XRP company continues to solidify its stance as a leader in the blockchain payment industry, holding over 55 licenses globally. These include authorizations from significant bodies such as the Monetary Authority of Singapore (MAS), the New York Department of Financial Services (NYDFS), and the Central Bank of Ireland (CBI). Brad Garlinghouse, CEO of Ripple, emphasized the importance of adapting to the regulatory environments of different regions. He stressed that blockchain is here to stay and praised DFSA stating, “With its forward-thinking regulatory approach and clear guidance for innovative businesses seeking to invest and scale, the UAE is positioning itself as a global leader in this…

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Filed under: News - @ October 1, 2024 9:21 am