Ripple has received in-principle approval for a financial services license from the Dubai Financial Services Authority (DFSA), allowing the company to expand its services in Dubai. This milestone makes Ripple the first blockchain-enabled payment services provider to be licensed by the DFSA. Ripple's chief legal counsel, Stuart Alderoty, emphasized the company's growing global license portfolio, which now includes over 55 licenses. Ripple's aim is to extend its presence in the Middle East, and it has recently partnered with the DIFC Innovation Hub and renewed its collaboration with NYU Abu Dhabi.



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