Ripple's XRP given green light by Dubai Financial Services Authority ahead of expected IPO

Ripple's has received approval from the Dubai Financial Services Authority (DFSA) for use in the Dubai International Financial Center (DIFC). This decision allows more than 4,300 DIFC companies to integrate XRP into their operations, expanding Ripple's influence in the Middle East, Africa and South Asia region. CEO Brad Garlinghouse applauded Dubai's pro-innovation regulators and emphasized Ripple's commitment to jurisdictions with open crypto regulations.

XRP now ranks alongside , and Litecoin as DFSA approved digital assets, demonstrating Dubai's commitment to cryptocurrency and blockchain technology. The approval could boost XRP's reputation, which has been tarnished during a lengthy case. Although XRP's market cap rose to $0.604621 per coin, it remained below its July peak of $0.82 following Judge Analisa Torres' partial ruling in favor of Ripple in the SEC case.

In another important development, Ripple has also been included in the Digital Lari pilot project on XRP Ledger by the National Bank of Georgia. These positive developments in Ripple's ecosystem, combined with its legal victories, are expected to spur growth in XRP's market value.

At the Ripple Swell event to be held in Dubai on November 8-9, 2023, important updates may be announced, including the XRP case presided over by Judge Analisa Torres. The cryptocurrency community is eagerly awaiting next week's Ripple IPO announcement, which is predicted with 98% certainty by Wall Street analysts using Pitchbook algorithms.

Ripple also received in-principle approval for its Major Payments Institution license in Singapore. These latest approvals and advancements underscore Ripple's commitment to expanding its presence globally and further solidifying its position in the cryptocurrency space.