PNUT Soars 200% Overnight as Elon Musk's 'Squirrel' Post Ignites Wild Solana Meme Rally 
Six Flags Partners With Google, Dell, HCL Tech to Launch Immersive Theme Park Experience in Metaverse 
From NIMBY to YIMBY: How localized real estate investment trusts can help address Canada’s housing crisis 
Dogecoin Whales Shift 550 Million DOGE in 20 Minutes: Market Braces for Potential Price Shakeup 
Shiba Inu Jumps 81% to Break Into Top 10 Cryptos, But Market Pullback Hits Fast 
Shiba Inu’s Explosive Bull Run Nets Whale Millions, Eyes All-Time High in Sights 
GameStop, AMC Stocks Soar as 'Roaring Kitty' Returns, Sparking Meme Stock Frenzy 
Italy’s Crypto Tax Cut to 28% Gains Momentum as Detroit Embraces Digital Tax Payments 
Shiba Inu Burn Rate Surges Over 1,000%, 463M SHIB Burnt as Bullish Signals Emerge for 300% Gain 
Tesla’s 6th Cybertruck Recall Ignites Safety Concerns with Drive Power Loss Affecting Thousands 
Napster, TerraZero Collaborate to Setup Metaverse for Music Artists 
Vanguard Bans Clients From Buying Bitcoin ETFs; Users Respond With a Threat to Shut Accounts 
Young investors: Here’s some tips for getting into the market 
BYD Aims to Rival Tesla in South Korea’s Electric Vehicle Market with 2025 Launch 
Bitcoin Closing in on $90K as It Posts Best Weekly Surge Since 2023 Banking Turmoil 
Coincheck Marks Japan's First SEC-Approved Crypto Listing on Nasdaq 
El Salvador’s $100 Million Bitcoin Surge Ignites National Reserves Amid Soaring Market Rally 
Ripple’s cryptocurrencies, called XRP and TonCoin (TON), were approved by the Dubai Financial Services Authority (DFSA), the financial regulator of the special economic zone, the Dubai International Financial Centre. The two crypto tokens are now recognized in the country and have officially joined the DFSA’s list of accepted cryptocurrencies.
CoinTelegraph reported that XRP and TON were included in the list of approved digital currencies that already have Bitcoin BTC, Ether ETH, and Litecoin LTC. These tokens are now recognized in the Dubai International Financial Centre (DIFC). With their new status, transactions involving them are allowable within the zone, with over 4,000 companies starting this month.
Ripple Confirms the Approval of Its XRP Token
As per CryptoSlate, Ripple announced that its crypto token has been accepted under DFSA’s virtual assets regime. This is good news as NFT and digital assets companies in Dubain can use XRP for the transactions. As long as the firm is licensed within the DIFC area, XRP is allowed.
It was said that of the 4,000 companies in the said special economic zone, Ripple has around 20% of customers. This is because the company opened its Middle East and North Africa (MENA) headquarters in the DIFC in 2020.
Unlocking XRP’s Potential in Regional Crypto Payment System
Meanwhile, Dubai’s acceptance of Ripple’s XRP is said to have opened the potential for the token to unlock new regional payments and other uses for virtual assets on the XRP Ledger. Moreover, the listing works well with the company because even before the approval of XRP, it selected DIFC as the location to operate its business in MENA.
“Dubai continues to demonstrate global leadership when it comes to the regulation of virtual assets and nurturing innovation,” Ripple’s chief executive officer, Brad Garlinghouse, said in a press release. It is refreshing to see the DFSA encourage the adoption and use of digital assets such as XRP to position Dubai as a leading financial services hub intent on attracting foreign investment and accelerating economic growth. Ripple will continue to double down on its presence in Dubai and we look forward to continuing to work closely with regulators to realize crypto’s full potential.”
Photo by: Kanchanara/Unsplash
