Ripple has received official approval from the Dubai Financial Services Authority (DFSA) for its XRP cryptocurrency token. This means that licensed firms in the Dubai International Financial Centre (DIFC) can now incorporate XRP into their virtual asset services. The DFSA’s virtual assets regime now allows for four digital assets, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and XRP. Ripple believes that this approval will provide legal and regulatory clarity for XRP and potentially unlock new regional payment and virtual asset use cases. Ripple CEO Brad Garlinghouse praised Dubai’s approach to digital asset regulation and expressed the company’s commitment to expanding its presence in the region. This announcement comes shortly after Ripple’s strategic partnership with crypto exchange Uphold and ahead of the Ripple Swell event in Dubai.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Middle East |
| Countries | 🇦🇪 |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Alya Al Zarouni, Brad Garlinghouse, Hensen Orser |
| Companies | DIFC, DFSA, VARA, Uphold, Ripple |
| Currencies | Ethereum, Litecoin, XRP, Bitcoin |
| Securities | None |
