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Ripple will start trading cryptocurrencies in the UAE

Ripple has received permission to conduct regulated payment services with cryptocurrencies in the Dubai International Financial Centre (DIFC). This was reported by the company's press service.

cryptocurrencies
cryptocurrencies

It is noted that the company became the first blockchain provider to receive a license from the agency. The cross-border payments market in the UAE is currently valued at $40 billion. The high demand for fast transaction processing, as well as the potential for stablecoin adoption, opens up opportunities for various companies for further growth.

According to Ripple, about 20% of its clients are based in the Middle East. Since opening an office in DIFC in 2020, the company has strengthened its position in the region.

It is worth noting that Ripple recently released the RLUSD stablecoin, pegged to the US dollar.

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