Ripple has obtained a license from the Dubai Financial Services Authority to provide cryptocurrency payment services in the United Arab Emirates
Arif Amiri, CEO of Dubai International Financial Centre (DIFC), stated that Ripple has received comprehensive regulatory approval from the Dubai Financial Services Authority (DFSA) to provide cross-border encrypted payment services in the United Arab Emirates (UAE). The company announced on March 13th that it had obtained its DFSA license, allowing it to operate in the DIFC. The DIFC is a free economic zone in the UAE with its own tax policy and regulatory framework. This announcement was made nearly six months after the company announced it had received principle approval for its DFSA license. On October 1st, 2024, Ripple revealed that it was working hard to obtain a DFSA license with hopes of launching its digital asset infrastructure in the UAE.
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