XRP News: Ripple Secures DFSA License for Crypto Payment Services in the UAE, Paving the Way for Faster and Cheaper Cross-Border Transactions

Ripple has made a significant breakthrough in the Middle East by securing a license from the Dubai Financial Services Authority (DFSA) to provide regulated crypto payment services in the Dubai International Financial Centre. This development could have far-reaching implications for the adoption and use of XRP in the region and beyond.

Ripple Secures DFSA License for Crypto Payment Services in the UAE

Ripple has received approval from the Dubai Financial Services Authority to provide regulated crypto payment services in the Dubai International Financial Centre. This makes Ripple (XRP) the first blockchain-powered payments company licensed by the DFSA. The license allows businesses in the UAE to use Ripple’s crypto payment solutions, which will help improve cross-border transactions by making them faster and cheaper. Ripple has been in the UAE since 2020, with its regional headquarters in the DIFC. Around 20% of its global customers are in the Middle East, which offers a major opportunity for blockchain-based payment systems with a global trade sector worth over $400 billion.

XRP Price: Analysts Predict Cycle Top, RTX Emerges as Potential Rival

XRP price is making headlines as analysts predict a potential cycle top, forecasting a major price surge in the coming months. Investors anticipate its next breakout, but some are already eyeing RTX, an emerging rival in crypto payments, for its seamless crypto-to-fiat solutions. With real-world adoption accelerating, RTX could offer massive upside potential. Meanwhile, XRP faces key resistance at $2.20 as traders look for a breakout.

Ripple Bags Dubai License to Offer Crypto Payments in UAE

Ripple has received approval from the Dubai Financial Services Authority (DFSA) to provide regulated crypto payments and services in the UAE, becoming the first blockchain-enabled payments provider licensed by the agency. Brad Garlinghouse, Ripple’s CEO, said that the crypto industry is entering an unprecedented period of growth driven by greater regulatory clarity and increasing institutional adoption. The UAE, due to its early leadership in creating a supportive environment for tech and crypto innovation, is well-positioned to benefit from this growth. Ripple has seen increasing demand across the Middle East from crypto-native firms and traditional financial institutions, with around 20% of its global customer base already operating there.

Is XRP Finally Free? Ripple’s Case Against The SEC Wraps Up

The SEC case against Ripple is reaching a decisive turning point. After more than four years of legal confrontation, the U.S. Securities and Exchange Commission (SEC) appears ready to close this emblematic case. In December 2020, the SEC launched lawsuits against Ripple Labs, accusing the company of illegally raising funds by selling XRP as an unregistered security. The case has gained considerable significance due to the regulatory uncertainty surrounding the crypto industry. After several years of proceedings and judicial twists, the ruling of August 2024 marked a decisive turning point, as a court ruled that programmatic sales of XRP on exchanges did not constitute an offer of financial securities, yet still fined Ripple $125 million.