The post Ripple Marks Momentous Achievement For XRP In Dubai appeared on BitcoinEthereumNews.com.

Ripple has announced a major achievement in the XRP ecosystem as the cryptocurrency has been officially approved for use within Dubai’s financial ecosystem by the Dubai Financial Services Authority (DFSA).  XRP Gets Greenlight in DIFC  Ripple revealed in an X (formerly Twitter) post on Thursday that XRP, the native token of the Ripple network has been accepted for use in Dubai, enabling licensed organizations in the Dubai International Financial Centre (DIFC) to utilize the token as a virtual asset service.  “The Dubai Financial Services Authority (DFSA) approved XRP under its virtual assets regime – allowing licensed firms in the Dubai International Financial Centre (DIFC) to incorporate XRP into their virtual asset services,” Ripple said.  XRP’s integration into Dubai crypto markets through the DIFC will unlock many advantages for the cryptocurrency, including bolstering its reputation after it dropped due to its legal battle with the United States Securities and Exchange Commission (SEC). The cryptocurrency will also benefit from legal and regulatory clarity while potentially opening regional payments and use cases on virtual assets on the XRP Ledger (XRPL).  The Chief Executive of Ripple, Brad Garlinghouse celebrated the launch of XRP into Dubai’s financial ecosystem and praised Dubai for its strong commitment to innovation and regulation of virtual assets. “Dubai continues to demonstrate global leadership when it comes to the regulation of virtual assets and nurturing innovation. It’s refreshing to see the DFSA encourage the adoption and use of digital assets such as XRP to position Dubai as a leading financial services hub intent on attracting foreign investment and accelerating economic growth,” the CEO stated Garlinghouse added, “Ripple will continue to double down on its presence in Dubai and we look forward to continuing to work closely with regulators to realize crypto’s full potential.” Token price maintains momentum | Source: XRPUSD on…

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Filed under: News - @ November 3, 2023 9:22 pm