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Dubai’s DIFC approves XRP under its virtual assets regime!

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Author: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

The Dubai Financial Services Authority (DFSA) has approved Ripple’s XRP digital asset for use in the Dubai International Financial Centre (DIFC), making it the first virtual asset to be approved by the regime since it opened up external applications. Licensed virtual asset firms located in the DIFC will now be able to incorporate XRP into their virtual asset services. XRP joins BTC, ETH, and LTC as the assets previously approved under the DFSA’s virtual assets regime. The move is a further indication of Dubai’s leadership in the regulation of virtual assets to nurture innovation and attract foreign investment, as well as its determination to become a leading financial services hub and accelerate economic growth.

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