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Today, Ripple announced that it has obtained in principle approval from the Dubai Financial Services Authority for a license for crypto financial services. We’re delighted to have secured in-principle approval of a financial services license from Dubai Financial Services Authority, unlocking our end-to-end managed payments services in the UAE. 🌍🇦🇪https://t.co/4zq8YPlgaG — Ripple (@Ripple) October 1, 2024 Thanks to this license, the crypto company will be able to provide end-to-end managed payment services in the United Arab Emirates.  The new crypto license of Ripple in Dubai The Dubai Financial Services Authority (DFSA) is the financial regulatory agency of the special economic zone of Dubai, in the United Arab Emirates (UAE). Thanks to the authorization from the DFSA, Ripple will be able to expand its services within the Dubai International Financial Centre (DIFC).  In particular, it will allow the introduction in the UAE of seamless cross-border payment services such as Ripple Payments Direct (RPD).  The company now declares to be ready to launch its enterprise-level infrastructure for digital assets to a broader customer base in the United Arab Emirates, and that this expansion is in line with Ripple’s mission to provide businesses with faster, more convenient, and efficient cross-border payment solutions. The strategy of Ripple is precisely to collaborate with regulators and policymakers around the world, to integrate blockchain and crypto technologies to complement the existing financial system. Dubai and the United Arab Emirates Dubai is not the capital of the United Arab Emirates (that is Abu Dhabi), but it is the largest and most important city of the Arab state. For some time now, it has also been known for being one of the main crypto hubs in the world, and certainly the main one in the Middle East.  Also thanks to its Dubai Financial Services Authority, which grants licenses to…

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Filed under: News - @ October 1, 2024 4:22 pm