“Ripple” provides payment services in encrypted currencies from “Dubai International Financial”

“Ripple”, operating in the field of providing “Blockchain” and digital currencies for institutions, has announced that it has obtained a license for the Dubai Financial Services Authority, to provide its services in the field of payment of encrypted currencies in the UAE.

She stated, in a statement, that by practicing its work from the Dubai International Financial Center, Ripple becomes the first provider in the field of payment services based on Blockchain technology that receives a license from the Dubai Financial Services Authority, and this is the first license for the company “Ripple” in the Middle East, which confirms its long -term commitment to enhance its services in the region and its constant compliance with global regulatory standards.

“We are currently witnessing the beginning of an exceptional growth phase of the encrypted currency sector, supported by the increasing clarity of the organizational frameworks globally, as well as the acceleration of institutions’ adoption of these currencies,” said Brad Garlinghyus, CEO of Ribel.

He added: “Thanks to its pioneering role in providing a supportive environment for innovation in the fields of technology and encrypted currencies, the UAE has a unique location that enables it to achieve the utmost benefit from this growing trend.”

For his part, the CEO of the Dubai International Financial Center, Aref Amiri, said: “We are pleased to see (Ripple) enhance its presence in Dubai by obtaining a license from the Dubai Financial Services Authority, thus becoming the first payment provider of payment services (Blockchain) at the Dubai World Financial Center.”

Amiri affirmed the commitment of “Dubai World Financial”, as one of the leading financial centers in the Middle East, Africa and South Asia, to support future vision companies such as “Ribel”, especially as it contributes to shaping the future of the financial sector, and enhancing the use of “Blockchain” technology in payments.

In turn, the administrative director of the company “Ribel” in the Middle East and Africa, Rais Merik, pointed to the strengthening of Dubai and the UAE for their pioneering place in developing effective and clear organizational frameworks in the field of digital assets.

He affirmed that the company’s obtaining a license for the Dubai Financial Services Authority is a major achievement that will contribute to enhancing its ability to meet the increasing demand for boundary payment transactions faster, lowest cost and more transparent in one of the largest border payments in the world.

He continued: «We strongly appreciate the support we received from our partners in the authority of the Dubai International Financial Center and the Dubai Financial Services, and we are enthusiastic to start strongly, supported by a growing local team and a solid customer base.

It is noteworthy that the stable “RLUSD”, which was launched at the end of December on global trading platforms, achieved a market value that exceeded $ 100 million.

It is expected that obtaining a license for the Dubai Financial Services Authority will enhance the “Ribel” balance of organizational approvals, which exceeded 60 global organizational licenses, including: a license for the main payments of the Monetary Authority in Singapore, and the “TRST CHARER” license from the New York Financial Services Department, and a registration license as provider of virtual asset services from the Irish Central Bank, in addition to money transfer licenses in A number of American states.