Ripple has acquired in-principle financial services license approval from Dubai’s DFSA, moving closer to offering cross-border crypto payment services in the UAE.
Ripple, a leading crypto payments infrastructure provider, has received an in-principle license approval from the Dubai Financial Services Authority (DFSA), allowing the company to establish a presence in the United Arab Emirates (UAE).
On Oct. 1, Ripple announced that it had secured in-principle license approval from the DFSA, a prerequisite for attaining a full license in Dubai. Once fully approved, Ripple will be able to offer cross-border payment services for fiat and digital assets in the Dubai International Financial Center (DIFC), a special economic zone in Dubai.
In its official statement, the company said:
