In a major announcement, the Dubai Financial Services Authority (DFSA) has approved the use of XRP token in companies under its global financial center. This move enables Ripple to expand XRP supply chain to thousands of companies in the Middle East, Africa, and South Asia (MEASA) region.
Also Read: US SEC Requests Summary Judgment Against Terra And Do Kwon
On Thursday, November 2, 2023, the DFSA gave its nod for the of the digital asset in the Dubai International Financial Centre (DIFC), which is a hub of more than 4,300 active registered companies in the region. Crypto firms licensed within the DIFC will be able to incorporate XRP into their virtual asset services. This helps Ripple unlock new regional payments and other virtual asset use cases on the XRP Ledger.
With this, XRP joins Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) as the assets previously approved under the Dubai DFSA’s virtual assets regime. In June 2023, Ripple received an in-principle approval of the Major Payments Institution License application in Singapore, which is another major hub for crypto firms besides Dubai.
Between November 8 and 9, 2023, the company is set to organize in Dubai the Ripple Swell, its flagship event that unites top financial industry and regulatory personalities. In the context of the July 2023 Summary Judgment in the XRP lawsuit by Judge Analisa Torres, it remains to be seen if any new announcements will be made during the event. The event will cover stories and insights from Ripple customers and industry thought leaders to explore how businesses are leveraging crypto and blockchain technology.
Earlier, CoinGape reported XRP price prediction in the range of $0.90 and $1 if the token breaks ongoing resistance around the $0.68 mark. Over the last 7 days, the XRP price realized a gain of 9% overall, despite a correction lately.
Also Read: Shiba Inu Price Prediction As Whales Move Millions Of Dollars In SHIB, Will Meme Coin Rally Or Fall?
The odds of the CLARITY Act passing in 2026 drop sharply as banks lobby against…
Admiral Samuel Paparo revealed during a House Committee hearing today that the U.S. military is…
Robinhood stock has jumped more than 3% in the early US trading hours, sparking optimism…
Charles Hoskinson's Input Output has introduced nine treasury proposals as part of the firm's bid…
The WLFI vs Justin Sun case is attracting a new wave of attention as a…
Bitcoin surges further to above $79,000 on Wednesday, climbing to reclaim $80K, on hopes of…