Ripple Labs continues to strengthen its presence in the United Arab Emirates by getting approval to offer blockchain-based payment services within the Dubai International Financial Center. This move makes the company the first crypto service provider to offer global payment services to businesses in the UAE.
Adding to this achievement, Ripple has partnered with two new payment partners to expand its network of operations across the Emirate. The move will ease cross-border payments and international payments without incurring high fees.
Ripple’s expansion underscores the importance of the UAE’s supportive regulatory environment in attracting fintech innovations. Ripple’s presence in the Middle East will foster crypto adoption and digital payment, having already secured 20% of consumers in the region.