XRP News Today : Ripple Gains Green Light for Crypto Payments in Dubai

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Ripple made cross-border payments easy! Ripple has secured approval from the Dubai Financial Services Authority (DFSA) to offer regulated crypto payments in the Dubai International Finance Centre (DIFC). This makes Ripple the first blockchain-powered payments provider licensed by the DFSA, marking a major step in its expansion into the Middle East. With crypto-friendly rules, Dubai is becoming a hot cake for big companies who want to expand their crypto wings.

Ripple officially announced that it secured its DFSA license on March 13 via press release, allowing it to operate in Dubai’s DIFC, a major financial hub with its own regulatory framework. This comes nearly six months after receiving in-principle approval on October 1, 2024, as part of its push to expand digital asset services in the UAE.

Why This Matters

Dubai is a global hub for cross-border payments, with a $40 billion market. Ripple’s entry means businesses can now access faster, cheaper, and more transparent payment solutions powered by blockchain. CEO brad garlinghouse information brad garlinghouse Brad Garlinghouse is the CEO of the financial technology company Ripple Labs, he is an extremely popular name across the global crypto landscape. He has previously served as the CEO of Hightail, a file-sharing service, and is also an active angel investor. He joined Ripple as COO in April 2015, answering to the CEO and prime supporter, Chris Larsen. He was elevated to CEO in December 2016. Initially, he worked at AOL and Yahoo! From 2003 to 2008, he filled in as Senior Vice President at Yahoo!, where he ran its Homepage, Flickr, Yahoo! Mail, and Yahoo! Courier divisions. While at Yahoo!, he wrote an inner update known as the "Peanut Butter Manifesto," requiring the organization to zero in on its core business instead of extending itself excessively far, much like peanut butter. Details: Organization: RippleLocation: United StatesEducation: MBA from Harvard Business School and BA from The University of KansasSkills: Venture capital and Startups Experience: CEO at Ripplefrom from Jan 2017 - Present ·President and COO at Ripple logo from Apr 2015 - Dec 2016Board Member at Animoto from 2012 - Dec 2017Tonic Health, an R1 company logoBoard Member at Tonic Health from 2011-2016Board Member at Ancestry from 2013 - 2016CEO at Hightail from May 2012 - Sep 2014 FAQs Who is Brad Garlinghouse?The CEO of Ripple, a financial technology business that specializes in blockchain technology and the cryptocurrency XRP, is Brad Garlinghouse. He has played a significant role in advancing cross-border payments using blockchain technology.What is Brad Garlinghouse's role at Ripple?Garlinghouse is in charge of Ripple's expansion and strategic direction in his capacity as CEO. Ripple has concentrated on using blockchain technology to enhance international payment networks under his direction. EntrepreneurInvestorChief Executive OfficerBoard Member and his team cheered this big achievement. Garlinghouse highlighted that regulatory clarity and institutional adoption are driving crypto’s rapid growth, and Dubai is well-positioned to benefit.

Ripple’s Growing Middle East Presence

Ripple has been expanding in the region since setting up its DIFC headquarters in 2020. Around 20% of its customers are already based in the Middle East, and a recent survey found that 64% of finance leaders in the region see blockchain payments as the future. The DFSA license will help Ripple accelerate its services in a market that is highly receptive to digital asset adoption.

After regulatory setbacks in the US, Ripple continues to expand its global presence with over 60 regulatory approvals, including key licenses from Singapore’s MAS, New York’s NYDFS, Ireland’s Central Bank, and multiple US states. The company is also eyeing stablecoin adoption, with its RLUSD stablecoin surpassing a $100 million market cap. This latest milestone positions Ripple as a key player in transforming international finance through blockchain innovation.

Recently, the company also cheered the XRP ETF filing, which hints that Ripple is confident that the Ripple vs SEC case will be resolved soon.