Ripple has announced that its digital asset XRP has been approved for use in the Dubai International Financial Center (DIFC). This decision represents an important milestone for the blockchain and cryptocurrency solutions company as XRP becomes the first virtual asset to receive approval from the Dubai Financial Services Authority (DFSA) under the DIFC Virtual Assets Regime.
Licensed virtual asset companies operating in the DIFC can integrate XRP into their services. In an official statement, Ripple highlighted its commitment to Dubai, noting that the company is keen to cooperate closely with regulatory bodies to unlock the full potential of cryptocurrencies.
Brad Garlinghouse, CEO of Ripple, said: “Dubai continues to demonstrate global leadership when it comes to regulating virtual assets and fostering innovation. It is refreshing to see the DFSA encouraging the adoption and use of digital assets like XRP to strengthen Dubai’s position.” As a leading financial services center determined to attract foreign investment and accelerate economic growth.
The inclusion of XRP in Dubai’s virtual asset landscape has the potential to open up many regional payment solutions and other virtual asset use cases for the XRP Ledger. As a major shareholder and user of the XRP Ledger, Ripple established its MENA headquarters in the Dubai International Financial Center in 2020. Notably, about 20% of ripple
ripple
Co-founded by Jed McCaleb and Chris Larsen, Ripple debuted in 2012 as a digital exchange network and pre-mined digital currency referred to as XRP. Ripple has a lower market capitalization than both Bitcoin and Ethereum, and is ranked as the third largest cryptocurrency. It is a decentralized, dual-source, open peer-to-peer (P2P) platform, and its network is able to work with any form of money such as GBP, ETH, YEN, etc. What is the use of Ripple? Ripple participants are known as the gateway
Co-founded by Jed McCaleb and Chris Larsen, Ripple debuted in 2012 as a digital exchange network and pre-mined digital currency referred to as XRP. Ripple has a lower market capitalization than both Bitcoin and Ethereum, and is ranked as the third largest cryptocurrency. It is a decentralized, dual-source, open peer-to-peer (P2P) platform, and its network is able to work with any form of money such as GBP, ETH, YEN, etc. What is the use of Ripple? Ripple participants are known as the gateway
Read this termThe company’s clients are located in the Middle East and North Africa region, which confirms the strategic importance of this step.
The Dubai Financial Services Authority (DFSA) today approved XRP under its virtual asset regime – allowing firms licensed in the DIFC (@Dubai International Financial Centre) to integrate XRP into their virtual asset services.
Learn more: https://t.co/JNcd4ROhoI
– Ripple (@Ripple) November 2, 2023
This announcement aligns with the upcoming Ripple Swell event, a major gathering of influential voices in the financial industry and regulatory sectors, scheduled to take place from November 8 to 9 in Dubai. Previous editions of Ripple Swell brought together hundreds of Ripple customers and partners in major financial centers such as London and Singapore.
Ripple is expanding its operations amid a regulatory break
Last month, US securities and exchange
exchange
A stock exchange is defined as a market that supports the trading of derivatives, commodities, securities and other financial instruments. In general, a stock exchange can be accessed through a digital platform or sometimes at a physical address where investors organize to conduct trading. One of the main responsibilities of the stock exchange is to support honest and fair trading practices. It is useful in ensuring the effectiveness of the price distribution of supported securities on that exchange
A stock exchange is defined as a market that supports the trading of derivatives, commodities, securities and other financial instruments. In general, a stock exchange can be accessed through a digital platform or sometimes at a physical address where investors organize to conduct trading. One of the main responsibilities of the stock exchange is to support honest and fair trading practices. It is useful in ensuring the effectiveness of the price distribution of supported securities on that exchange
Read this term
The SEC has officially dropped all charges against two key figures at Ripple, Brad Garlinghouse, CEO, and Chris Larsen, CEO. These accusations were initially made in a lawsuit alleging that XRP was an unregistered security. The SEC’s decision to drop the charges marked the conclusion of a three-year legal battle between Ripple and the SEC.
The Securities and Exchange Commission began legal proceedings against Ripple, including its CEO and CEO, in late 2020, accusing them of selling unregistered securities in the form of XRP. After a long legal struggle, a US court ruled in favor of Ripple in July of this year. Despite the SEC’s appeal, the court reaffirmed its decision earlier this month.
However, Ripple has continued to expand its operations globally by acquiring core licenses. The company obtained a Major Payments Institution license from the Monetary Authority of Singapore last month. This license was granted to Ripple’s local subsidiary, Ripple Markets APAC Pte Ltd, following in-principle approval from Singapore’s regulatory body for the company earlier this year.
Ripple has announced that its digital asset XRP has been approved for use in the Dubai International Financial Center (DIFC). This decision represents an important milestone for the blockchain and cryptocurrency solutions company as XRP becomes the first virtual asset to receive approval from the Dubai Financial Services Authority (DFSA) under the DIFC Virtual Assets Regime.
Licensed virtual asset companies operating in the DIFC can integrate XRP into their services. In an official statement, Ripple highlighted its commitment to Dubai, noting that the company is keen to cooperate closely with regulatory bodies to unlock the full potential of cryptocurrencies.
Brad Garlinghouse, CEO of Ripple, said: “Dubai continues to demonstrate global leadership when it comes to regulating virtual assets and fostering innovation. It is refreshing to see the DFSA encouraging the adoption and use of digital assets like XRP to strengthen Dubai’s position.” As a leading financial services center determined to attract foreign investment and accelerate economic growth.
The inclusion of XRP in Dubai’s virtual asset landscape has the potential to open up many regional payment solutions and other virtual asset use cases for the XRP Ledger. As a major shareholder and user of the XRP Ledger, Ripple established its MENA headquarters in the Dubai International Financial Center in 2020. Notably, about 20% of ripple
ripple
Co-founded by Jed McCaleb and Chris Larsen, Ripple debuted in 2012 as a digital exchange network and pre-mined digital currency referred to as XRP. Ripple has a lower market capitalization than both Bitcoin and Ethereum, and is ranked as the third largest cryptocurrency. It is a decentralized, dual-source, open peer-to-peer (P2P) platform, and its network is able to work with any form of money such as GBP, ETH, YEN, etc. What is the use of Ripple? Ripple participants are known as the gateway
Co-founded by Jed McCaleb and Chris Larsen, Ripple debuted in 2012 as a digital exchange network and pre-mined digital currency referred to as XRP. Ripple has a lower market capitalization than both Bitcoin and Ethereum, and is ranked as the third largest cryptocurrency. It is a decentralized, dual-source, open peer-to-peer (P2P) platform, and its network is able to work with any form of money such as GBP, ETH, YEN, etc. What is the use of Ripple? Ripple participants are known as the gateway
Read this termThe company’s clients are located in the Middle East and North Africa region, which confirms the strategic importance of this step.
The Dubai Financial Services Authority (DFSA) today approved XRP under its virtual asset regime – allowing firms licensed in the DIFC (@Dubai International Financial Centre) to integrate XRP into their virtual asset services.
Learn more: https://t.co/JNcd4ROhoI
– Ripple (@Ripple) November 2, 2023
This announcement aligns with the upcoming Ripple Swell event, a major gathering of influential voices in the financial industry and regulatory sectors, scheduled to take place from November 8 to 9 in Dubai. Previous editions of Ripple Swell brought together hundreds of Ripple customers and partners in major financial centers such as London and Singapore.
Ripple is expanding its operations amid a regulatory break
Last month, US securities and exchange
exchange
A stock exchange is defined as a market that supports the trading of derivatives, commodities, securities and other financial instruments. In general, a stock exchange can be accessed through a digital platform or sometimes at a physical address where investors organize to conduct trading. One of the main responsibilities of the stock exchange is to support honest and fair trading practices. It is useful in ensuring the effectiveness of the price distribution of supported securities on that exchange
A stock exchange is defined as a market that supports the trading of derivatives, commodities, securities and other financial instruments. In general, a stock exchange can be accessed through a digital platform or sometimes at a physical address where investors organize to conduct trading. One of the main responsibilities of the stock exchange is to support honest and fair trading practices. It is useful in ensuring the effectiveness of the price distribution of supported securities on that exchange
Read this term
The SEC has officially dropped all charges against two key figures at Ripple, Brad Garlinghouse, CEO, and Chris Larsen, CEO. These accusations were initially made in a lawsuit alleging that XRP was an unregistered security. The SEC’s decision to drop the charges marked the conclusion of a three-year legal battle between Ripple and the SEC.
The Securities and Exchange Commission began legal proceedings against Ripple, including its CEO and CEO, in late 2020, accusing them of selling unregistered securities in the form of XRP. After a long legal struggle, a US court ruled in favor of Ripple in July of this year. Despite the SEC’s appeal, the court reaffirmed its decision earlier this month.
However, Ripple has continued to expand its operations globally by acquiring core licenses. The company obtained a major payments institution license from the Monetary Authority of Singapore last month. This license, granted to Ripple’s local company, Ripple Markets APAC Pte Ltd, follows initial approval by Singapore’s regulatory body for the company earlier this year.