“Ripple has received DFSA approval for regulated cryptocurrency payment services at the Dubai International Financial Center (DIFC). The firm became the first blockchain provider, licensed. According to presents, the cross -border payments in the UAE are estimated at $ 40 billion. The high demand for rapid transaction processing, as well as the potential for the introduction of steiblcoins open up opportunities for further growth. Ripple reported that about 20% of its customers are based in the Middle East. With opening […]”, – WRITE: Businessua.com.ua
Ripple has received approval from Dfsa to provide regulated cryptocurrency payment services at the Dubai International Financial Center (DIFC).
The firm became The first blockchain provider, licensed.
According to presents, the cross -border payments in the UAE are estimated at $ 40 billion. The high demand for rapid transaction processing, as well as the potential for the introduction of steiblcoins open up opportunities for further growth.
Ripple reported that about 20% of its customers are based in the Middle East. With the opening of the office in the DIFC 2020, the company strengthened the position in the region.
Ripple CEO Brad Harlinghaus noted that the UAE has created comfortable conditions for the development of blockchain technologies, which will contribute to the growth of crypto industry.
One of the recent Ripple products was Rlusd stablcoin tied to the US dollar. The company expects that demand for “stable coins” will also grow in the region.
The DFSA license has been an additional step in the Ripple Global Expansion. In total, the company has already received more than 60 permits around the world.
We will remind, on February 25, Ripple introduced the “institutional” Defi-infrastructure based on the XRP Ledger network.
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