Ripple News: Dubai Regulator Approves Ripple's XRP

Dubai Regulator Approves Ripple’s XRP


136 Listen to this article Ripple’s digital currency XRP has been sanctioned by the Dubai Financial Services Authority (DFSA) for […]

Latest News

Listen to this article

Ripple’s digital currency XRP has been sanctioned by the Dubai Financial Services Authority (DFSA) for use within the Dubai International Financial Centre (DIFC). This approval allows firms within the DIFC to integrate XRP into their virtual asset offerings, signaling a significant milestone as XRP is the first such asset to receive approval under the DFSA’s virtual assets framework.

The recognition of XRP alongside other established digital assets like BTC, ETH, and LTC reflects Dubai’s progressive stance on virtual currencies and its ambition to establish a comprehensive regulatory environment for the fintech sector. The DFSA’s endorsement is poised to bolster XRP’s use by Dubai-based institutions for improved efficiency in global transactions.

As part of the UAE’s broader strategy to cultivate an innovative financial services landscape, Ripple has reiterated its commitment to expanding its operations in Dubai. This development precedes Ripple’s marquee Swell conference in Dubai, which is expected to draw influential figures from the finance and fintech sectors, including DIFC and VARA leadership.

Dubai’s integration of XRP into its virtual asset regime could catalyze the development of new payment systems and applications across the MENA region, leveraging the XRP Ledger’s capabilities. Ripple has previously chosen the DIFC for its MENA headquarters, attributing the decision to the emirate’s forward-looking regulatory policies and its status as a global financial hub.

For the Latest Crypto News follow the Coinography and Subscribe our YouTube channel or follow us on social media platforms like Twitter, Facebook, Instagram and LinkedIn.

Read Also:  Mexico's Central Bank Uses XRP Ledger for USD-MXN Ripple's Global Influence Grows
0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments

Get Latest Updates

Latest News

Web Stories

Latest News

Would love your thoughts, please comment.x
Scroll to Top
Bitcoin ETFs Surge as Investors Seek Exposure Coinbase, Andreessen Horowitz, and Ripple have joined forces to fund a new crypto DMM Bitcoin Hit by $305M Hack Ripple Releases 1 Billion XRP Tokens What to Expect from Bitcoin’s Price Rally in H2 2024 Trump’s MAGA Coin Soars 7% While Biden Parody Sinks Amid Ex-President’s Trial — NFTs Hold Steady Analyst Warns About Dogecoin Decline CME Denies Solana Futures Plans Amid Growing Rumors Can PEPE flip Polygon? Market cap race heats up! Why Bitcoin Price Is Down Today? Cristiano Ronaldo Launches 4th NFT Collection on Binance Amid $1B Lawsuit Coinbase Alleges SEC Dodging Howey Test in New Appeal Ethereum ETFs Granted Official Approval by SEC Crypto Whale Splurges $10.4 Million on Meme Coin PEPE SOL Price Nearing Support as On-Chain Activity Dips for Solana Penguiana Meme Coin’s Presale Achieves Success, Raising 290 SOL Solana to Bitcoin Bridge, Zeus Network, Set for Debut in Q3 2024 DeFi Lending Leader Aave Unveils V4 Protocol Overhaul MicroStrategy (MSTR) Incurs Losses in Q1 After Digital Asset Impairment Takes Toll Upbit Emerges as Top Five Crypto Exchange, Posing Challenge to Binance, Coinbase