Ripple is reportedly having a conversation with Dubai authorities to discuss payment infrastructure and building innovation. Ripple representatives, including President Monica Long, met with UAE officials during the Dubai Fintech Summit to explore ways to strengthen the region’s digital payment system.
In a tweet, Ripple said, “Our President Monica Long had the honor of meeting with His Highness Ahmed bin Saeed at Dubai Fintech Summit. We continue to be impressed with the leadership demonstrated by Dubai as it establishes itself as one of the world’s leading hubs for digital assets.”
This comes just two months after receiving a license from the Dubai Financial Services Authority (DFSA) to offer regulated digital payment services in the Dubai International Financial Centre (DIFC). Ripple announced getting its approval back on March 13, 2025, making it the first blockchain-powered payment provider to be officially licensed by the DFSA in the UAE.
It was Ripple’s first regulatory license in the Middle East, and it allows the tech firm to expand its digital asset payment offerings in one of the world’s top financial hubs. The company said this approval supports its goal of offering fast and affordable cross-border payments using blockchain technology.
“We are entering an unprecedented period of growth for the crypto industry,” said Ripple CEO Brad Garlinghouse in the press release. Garlinghouse further added, “The UAE is exceptionally well-placed to benefit.” Ripple believes the UAE’s early steps in creating friendly rules for crypto innovation helped make this possible.
Besides, Ripple’s entry into the DIFC comes at a time when the UAE is viewed as the hub for international trade. Ripple Network currently handles over $400 billion in cross-border transactions, and there are several traditional finance firms and crypto companies in the region looking for answers to slow, expensive payment systems.
According to Ripple’s 2024 survey, 64% of finance leaders in the Middle East and Africa see faster payments as the biggest benefit of blockchain-based transactions. Ripple first set up its Middle East headquarters in the DIFC in 2020. Since then, it has grown its presence steadily. Today, nearly 20% of Ripple’s global customers come from the region.
The new license will allow Ripple to build on that base and grow further. Reece Merrick, Ripple’s Managing Director for Middle East and Africa, said, “Securing this DFSA license is a major milestone… we’re ready to hit the ground running.”
Meanwhile, this approval adds to Ripple’s growing list of regulatory wins around the world. It already holds licenses from Singapore’s MAS, New York’s Department of Financial Services, Ireland’s Central Bank, and multiple U.S. states.
Ripple is also promoting the use of its own stablecoin, RLUSD, which launched in December and has already reached over $316 million in market cap.
His Excellency Arif Amiri, CEO of DIFC Authority, said Ripple’s move is a strong sign of Dubai’s support for financial innovation. “This milestone not only highlights our commitment to fostering innovation but also opens the door for Ripple to tap into new growth opportunities,” he said.
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