On March 13, the U.S.-based digital payments company Ripple announced that it has received a license from the Dubai Financial Services Authority (DFSA) to offer regulated crypto payments and services in the Dubai International Finance Centre (DIFC).

The DIFC is a free-economic zone in the United Arab Emirates (UAE) that fosters an innovative financial and technological ecosystem. The regulatory approval enables the company to provide its cross-border crypto payment services to financial organizations across the country.

With this license, Ripple became the first blockchain payments provider licensed in the DIFC, said DIFC CEO Arif Amiri. It is also the first license for Ripple in the Middle East.

Ripple CEO Brad Garlinghouse said, “Thanks to its early leadership in creating a supportive environment for tech and crypto innovation, the UAE is exceptionally well-placed to benefit.”

The final approval came months after Ripple secured an in-principle license from the DFSA in October 2024. The local policies mandated any company to establish an office in the region, among other conditions, to become eligible for a regulatory approval.

Since Ripple had already established its Middle East headquarters in DIFC in 2020, it didn’t take long for the company to receive the license. In fact, the company claims that around 20% of its global customer base exists in the Middle East.

Ripple has already secured over 60 regulatory licenses globally in countries such as Singapore and Ireland, in addition to several US states.

The XRP token didn’t have a dramatic reaction to the announcement of the DIFC license and was trading at $2.27 at press time.