Ripple has become the first blockchain payments firm to secure a licence from the Dubai Financial Services Authority (DFSA). This is the firm’s first licence in the Middle East, and enables the firm to provide regulated cryptocurrency payments and services within the Dubai International Finance Centre (DIFC).

Ripple (CRYPTO: XRP) on Thursday announced it has secured authorization from the Dubai Financial Services Authority (DFSA) to deliver regulated cryptocurrency payment services within the Dubai International Finance Centre (DIFC),

On March 13, the U.S.-based digital payments company Ripple announced that it has received a license from the Dubai Financial Services Authority (DFSA) to offer regulated crypto payments and services in the Dubai International Finance Centre (DIFC).

“Securing this DFSA licence is a major milestone that will enable us to better serve the growing demand for faster, cheaper and more transparent cross-border transactions in one of the world’s largest cross-border payments hubs,” said Reece Merrick, Ripple’s Managing Director for the Middle East and Africa.

Ripple just secured a Dubai Financial Services Authority (DFSA) license to provide regulated crypto payments in the Dubai International Financial Centre (DIFC), according to a press release on Thursday.

Payments utility is also expected to drive greater stablecoin adoption in the UAE for their real time settlement value proposition.