Dubai

<ul>
 <li>Ripple secures DFSA in-principle approval, moving closer to full licensing for cross-border payments in Dubai's DIFC.</li>  
 <li>Ripple plans to use Dubai as a hub, expanding blockchain-powered payment services across the Middle East, Africa, and South Asia.</li>  
 <li>Dubai's DFSA grants Ripple initial approval, positioning it as the first blockchain-enabled payment provider in the UAE's fintech ecosystem.</li> 
</ul>  
<p>Ripple, a leading digital asset infrastructure provider, has received approval from the Dubai Financial Services Authority (DFSA) to expand its services from the Dubai International Financial Centre (DIFC), thereby strengthening its global presence and enabling the introduction of seamless cross-border payment services, including Ripple Payments Direct in the UAE.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/Ripple/status/1841013971676967283
 </div>
</figure>  
<p>The in-principle license allows <a href="https://cryptonewsland.com/?s=Ripple" target="_blank" rel="noopener noreferrer nofollow">Ripple</a> to begin the final steps necessary for full licensure. The DIFC, recognized for its robust regulatory framework, requires applicants to meet various criteria, including establishing office space within the financial center. Ripple's successful acquisition of this license would position it as the first blockchain-enabled payment services provider fully licensed under the DFSA.</p>  
<h2 class="wp-block-heading" id="h-establishing-a-strategic-hub-in-dubai"><strong>Establishing a Strategic Hub in Dubai</strong></h2>  
<p>Ripple intends to center Dubai as a key location to expand its offerings throughout the Middle East, Africa, and South Asia. The UAE's focus on developing a forward-thinking financial technology landscape reinforces this strategic positioning. According to Ripple CEO Brad Garlinghouse, the UAE's <a href="https://cryptonewsland.com/ripple-secures-dfsa-approval-to-expand-blockchain/" target="_blank" rel="noopener noreferrer nofollow">supportive regulations</a> and favorable environment for startups attract financial technology innovators.</p>  
<p>Additionally, Salmaan Jaffery, the Chief Business Development Officer of the DIFC Authority, pointed out Dubai's favorable location and solid regulatory structure, which help international firms reach substantial goals in the fintech field. Ripple's presence in Dubai will likely ignite the use of blockchain in regional cross-border payments and uphold Dubai's reputation as a global fintech hub.</p>  
<h2 class="wp-block-heading" id="h-regulatory-advances-in-dubai-s-crypto-environment"><strong>Regulatory Advances in Dubai’s Crypto Environment</strong></h2>  
<p>Dubai has also implemented stricter rules for cryptocurrency companies conducting business within its jurisdiction. On September 26, the <a href="https://cryptonewsland.com/ripple-arrives-in-dubai-xrp-gains-vara-approval-for-use-in-dubai-international-financial-centre/" target="_blank" rel="noopener noreferrer nofollow">Dubai Virtual Asset Regulatory Authority (VARA)</a> established that all digital asset investment advertisements must present clear disclaimers. According to VARA CEO Matthew White, these new rules are designed to enable virtual asset providers to act transparently and responsibly.</p>  
<p>This action by VARA aligns with efforts to create a safe and monitored atmosphere for digital asset investments in Dubai. Ripple's presence in this controlled setting may allow the firm to significantly impact the shifting landscape of digital payments worldwide.</p> 
<p>The post <a href="https://cryptonewsland.com/ripple-receives-in-principle-approval-from-dubai-financial-services-authority/" rel="noopener noreferrer nofollow">Ripple Receives In-Principle Approval from Dubai Financial Services Authority</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Ripple Receives In-Principle Approval from Dubai Financial Services Authority

Table of Contents

Crypto News Land

Other articles published on Oct 1, 2024

Invest $50 in TON, SOL, and SEI for a Life-Changing 100x in 4 Months

Crypto Regulation: US SEC Scores New Win In Major Securities Suit

Hashdex files amended S-1 for Nasdaq Crypto Index US ETF

Avalanche (AVAX), Dogecoin (DOGE), or Dogen (DOGEN): Which Altcoin Is Set to Deliver 10,000% ROI ...

Bitcoin Price Declines Amid Weak US PMI Data and Economic Struggle

MUSKPEPE Memecoin Will Rally 15,000% Ahead of Exchange Listing, While SHIB and DOGE Underperform

Join our free newsletter for daily crypto updates!