Ripple Wins License from UAE Regulator

Fintech firm Ripple has acquired a crucial license from Dubai’s financial regulatory agency, as announced in a press release on Thursday.

This license enables Ripple to offer regulated cryptocurrency payments within the Dubai International Financial Centre, a leading global financial hub.

Ripple CEO Brad Garlinghouse highlighted that the industry is experiencing “unprecedented” growth and praised the UAE for creating a supportive environment for crypto. The company set up its regional headquarters in Dubai in 2020.

“With clear regulations and increasing demand, Dubai is the ideal location for blockchain-powered payments,” stated Reece Merrick, Ripple’s Managing Director for the ME region, on social media.