Ripple Strengthens Grip in Growing Middle Eastern Crypto Industry
Ripple is tightening its hold on the fast-growing crypto industry in the Middle East. This year, the company became the first blockchain payments provider to receive a license from the Dubai Financial Services Authority (DFSA).
This license enables Ripple to offer its Ripple Payments service to businesses in the UAE. The firm generally wants to offer transparent cross-border payments in one of the world’s biggest trade and remittance markets, according to a recently posted blog post.
Meanwhile, the Middle East is now the world’s seventh-largest crypto economy. Ripple started growing in the region when it opened an office in Dubai in 2020. Now, 20% of Ripple’s total customers are in the Middle East.
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