Ripple Secures Key Dubai License, Strengthening Middle East Expansion
02.10.2024 9:00 1 min. read Kosta Gushterov
U.S. blockchain payments company Ripple Labs Inc. has demonstrated significant progress in its global expansion after securing an important operating license in Dubai.
The company announced, it has received approval in principle from the Dubai Financial Services Authority (DFSA), allowing it to expand its services from the Dubai International Financial Centre (DIFC).
Dubai is quite a valuable crypto hub and serves as a major gateway to the Middle East. As Ripple has already established a payment network in the MENA region, this new license will allow the company to effectively deploy its payment solutions to a variety of clients and users.
In addition to enhancing cross-border business opportunities, this license represents Ripple Labs’ commitment to compliance in various jurisdictions.
With the new licensing approval in Dubai, Ripple Labs aims to establish a regional headquarters there, confident that its operations can thrive in the region’s transparent regulatory framework.
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