tl;dr
Ripple has obtained a key license from Dubai's financial regulatory agency, allowing the company to offer regulated cryptocurrency payments within the Dubai International Financial Centre. Ripple's CEO has praised the UAE for creating a supportive environment for crypto, noting that the industry is ...
Ripple has obtained a key license from Dubai's financial regulatory agency, allowing the company to offer regulated cryptocurrency payments within the Dubai International Financial Centre. Ripple's CEO has praised the UAE for creating a supportive environment for crypto, noting that the industry is experiencing unprecedented growth. The company established its regional headquarters in Dubai in 2020 and has secured over 60 approvals worldwide, including expanding its presence in the U.S. with licenses in Texas and New York.
Enterprise blockchain company Ripple has obtained a key license from Dubai's financial regulatory agency, according to a Thursday press release. The company will now be able to offer regulated cryptocurrency payments within the Dubai International Financial Centre, which is a special economic zone that is considered to be one of the most advanced financial centers in the world.
The Ripple CEO, Brad Garlinghouse, has commented that the industry has now entered a period of "unprecedented" growth. The Ripple executive has lauded the UAE for fostering "a supportive environment" for crypto.
"With clear regulations and growing demand, Dubai is the place to be for blockchain-powered payments," Reece Merrick, Ripple's managing director for the ME region, said on social media.
The company has now secured more than 60 approvals across the globe. As reported by U.Today, the company also expanded its presence in the U.S. by securing two licenses in Texas and New York back in January.