Ripple Celebrates XRP’s Significant Victory in Dubai


Ripple has received official approval from the Dubai Financial Services Authority (DFSA) to be used within Dubai’s financial ecosystem, marking a significant milestone for the XRP ecosystem, according to Ripple.

XRP Receives Approval from DIFC

The native token of the Ripple network, XRP, has been approved for usage in Dubai. This allows authorized firms located in the Dubai International Financial Centre (DIFC) to use the token as a virtual asset service, as disclosed by Ripple in a post on X (previously Twitter) on Thursday.

Stay in the know on crypto by frequently visiting Crypto News Today

“Licensed firms in the Dubai International Financial Centre (DIFC) are now able to incorporate XRP into their virtual asset services as per the approval of the Dubai Financial Services Authority (DFSA) under its virtual assets regime,” according to Ripple.


The inclusion of XRP in the Dubai cryptocurrency markets via the DIFC will benefit the cryptocurrency in several ways, one of which is that it will improve its standing after it suffered a setback as a result of its legal dispute with the US Securities and Exchange Commission (SEC). Clarity in law and regulation will also help the cryptocurrency, and it may also lead to the creation of use cases for virtual assets on the XRP Ledger (XRPL) and regional payments.

The introduction of XRP into Dubai’s financial ecosystem was welcomed by Ripple CEO Brad Garlinghouse, who also commended Dubai for its steadfast dedication to innovation and virtual asset regulation.

When it comes to fostering innovation and regulating virtual assets, Dubai is still at the forefront of the world. “It’s encouraging to see the DFSA promote digital assets like XRP in order to establish Dubai as a premier financial services center with the goal of drawing in foreign capital and quickening economic expansion,” the CEO said.


“Ripple will continue to double down on its presence in Dubai, and we look forward to continuing to work closely with regulators to realize the full potential of cryptocurrency,” Garlinghouse continued.

Partnering With The NBG, Ripple

Official clearance has been granted by the National Bank of Georgia (NBG) to Ripple’s collaboration for the Digital Lari (GEL) pilot project.

CryptoCaster Quick Check:

We are pleased to announce our collaboration on the Digital Lari (GEL) pilot project with the National Bank of Georgia (NBG). In an X post, the company stated that the trial will make use of Ripple’s highly regarded CBDC Platform to assess useful use cases and advantages for enterprises and the public sector.

Follow GappyCoin PreSale on Twitter, and ReCap for information and more.

After a rigorous selection procedure, the cryptocurrency company was the only one picked by the NBG to support its national digital currency. The NBG will use the crypto firm’s CBDC platform as a testing technology to develop and carry out the pilot program.

James Wallis, Vice President of Central Bank Engagements at Ripple, praised the new alliance and predicted that the NBG will gain a lot from the capabilities of its CBDC platform.

Wallis said, “This pilot will pave the way for transformative advancements in the utilization of blockchain technology within the public sector by harnessing the power of the Ripple CBDC Platform.”CRYPTOCASTER® - DECENTRALIZED FREEDOM!

We hope you appreciated this article. Before you move on, I was hoping you would consider taking the step of supporting CryptoCaster’s journalism. 

From  Elon Musk, Larry Fink(BlackRock) to Jamie Dimon(JP Morgan Chase) a number of billionaire owners have a powerful hold on so much of the hidden agendas’ which eludes the public concerning the paradigm shift juxtaposed by cryptocurrency and web3 emerging technologies. CryptoCaster is different. We have no billionaire owner or shareholders to consider. Our journalistic efforts are produced to serve the public interest in crypto development and institutional disruptions – not profit motives.

And we avoid the trap that befalls much U.S. and global media – the tendency, born of a desire to please all sides, to engage in false equivalence in the name of neutrality and retail consumer protection. While fairness and transparency dictates everything we do, we know there is a right and a wrong position in the fight against fiat global banking interest and monetary reconstruction precipitated by the emerging crypto ecology.

When we report on issues like the FTX, Binance and Ripple crisis, we’re not afraid to name who or what is uncovered. And as a crypto sentinel, we’re able to provide a fresh, outsider perspective on the global monetary disruption – one so often missing from the insular American and European media bubble. 

Around the world, readers can access the CryptoCaster’s paywall-free journalism because of our unique reader-supported model. That’s because of people like you. Our readers keep us independent, beholden to no outside influence and accessible to everyone – whether they can afford to pay for news and information, or not.

We thankyou for the on-going support our readers have bestowed monetarily. If you have not considered supporting CryptoCaster, if you can, please consider supporting us just once from $1 or more of Bitcoin (satoshi) or Eth, and better yet, support us every month with a little more. Scroll further down this page to obtain CryptoCaster’s wallet addresses.

Thank you.

Kristin Steinbeck
Editor, CryptoCaster

Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.

Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
MATIC – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt


You may also like