Just as traditional finance giants were getting comfortable in their UAE remittance stronghold, Ripple crashed the party. On March 13, 2025, the blockchain payments provider secured a coveted license from the Dubai Financial Services Authority (DFSA), becoming the first of its kind to do so. Talk about making an entrance.
Ripple’s groundbreaking DFSA license disrupts UAE’s traditional finance landscape, marking a bold new chapter in blockchain-powered payments.
The timing couldn’t be better. With the UAE’s cross-border payments market sitting at a whopping $40 billion and international trade exceeding $400 billion, Ripple’s positioning is nothing short of strategic. They’re not just dipping their toes in – they’re diving headfirst into a market where 64% of finance leaders are desperate for faster payment solutions. With over 60 global licenses already in their portfolio, Ripple’s DFSA approval further cements their regulatory credibility.
This isn’t Ripple’s first rodeo in the region. Since establishing their DIFC headquarters in 2020, they’ve built quite a following – about 20% of their global customer base calls the Middle East home. Now, with the DFSA license in hand, they’re set to expand across the Middle East, Africa, and South Asia. Senior Executive Officer Reece Merrick has been leading regional operations with notable success. Not bad for a company that just launched their dollar-pegged stablecoin RLUSD a few months ago.
CEO Brad Garlinghouse isn’t being subtle about it either. He’s practically giddy about the “unprecedented period of growth” in the crypto industry, and who can blame him? With RLUSD’s market cap already hitting $135 million, they’re clearly onto something. Like most large-cap cryptocurrencies, Ripple tends to follow Bitcoin’s market movements but with its own unique momentum.
The UAE’s welcoming regulatory environment doesn’t hurt either – they’ve been rolling out the red carpet for crypto innovation while other regions are still debating what to do about it.
The traditional cross-border payment system, with its high fees and snail-pace settlements, is looking increasingly dinosaur-like. Ripple’s blockchain-enabled solutions are stepping in to fix these headaches, and the timing couldn’t be better.
DIFC CEO Arif Amiri is all in, championing companies that are reshaping finance’s future. One thing’s clear: the UAE’s remittance scene is about to get a serious shake-up, and Ripple’s leading the charge.
