The Blockchain Ripple payment supplier has received full regulatory approval from the Dubai Financial Services Authority (DFSA) to offer cross -border cryptographic payments in the United Arab Emirates (Zeae).
The company announced on March 13 that it secured its DFSA license, enabling it to act in the Dubai International Financial Center (DIFC), the ZAA free economic zone with its own tax rules and regulatory frames.
The announcement took place almost six months after the company announced the receipt of the DFSA license. On October 1, 2024, Ripple revealed that he was working on a DFSA license, which was aimed at introducing his digital asset infrastructure in the United Arab Emirates.
Turning on global payments based on blockchain for ZEA companies
Thanks to this license, Ripple can now provide its global payment solutions based on blockchain for companies in the United Arab Emirates. The company said that this allows you to satisfy financial institutions looking for partners who lend a hand them utilize digital assets in real applications.
In a message sent to Cointelegraph, general director of Ripple, Brad Garlinghouse, said that ZAA is “well placed” for the benefit of technological and cryptographic innovations, thanks to early leadership and supporting environment:
“We enter the unprecedented period of development of the cryptocurrency industry, powered by greater regulatory brightness around the world and increasing institutional adoption.”
Ripple also announced that he had observed increased demand in the Middle East for cross -border payments. The company stated that demand was not restricted to cryptocurrency companies, but also comes from classic financial institutions.
Related: ZAA to introduce a legal framework for Daos
Ripple becomes the first cryptographic payment supplier at DIFC
With the consent of DFSA RIPPLE, she became the first payment supplier from Blockchain, which was vigorous in the DIFC Free Zone, according to the general director of DIFC Arifa Amiri.
“We are glad that RIPPLE deepens its commitment to Dubai, securing the DFSA license, which makes them the first payment supplier with blockchain service in Difc,” he said.
He added that the license allows Ripple to utilize the possibilities in the United Arab Emirates and the wider Mena region.
https://www.youtube.com/watch?v=d7tl4gxowfw
Warehouse: Sebastien Borget from Sandbox Cringes on the word “influencer”: X Hall of Flame
