{"id":559038,"date":"2023-11-03T17:00:29","date_gmt":"2023-11-03T17:00:29","guid":{"rendered":"https:\/\/wncen.com\/?p=559038"},"modified":"2024-06-11T07:56:43","modified_gmt":"2024-06-11T07:56:43","slug":"regulatory-approval-to-offer-xrp-services","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple\/regulatory-approval-to-offer-xrp-services\/","title":{"rendered":"Ripple Achieves Regulatory Approval To Offer XRP Services"},"content":{"rendered":"

Ripple<\/span><\/a> grabs yet another achievement with its recent legal and regulatory approval which will basically grant crypto-related firms within the Dubai International Financial Center (DIFC) the right to offer XRP services.<\/span><\/p>\n

Latest Approval Sparks Broader XRP Adoption<\/span><\/h2>\n

According to a recent <\/span>announcement<\/span><\/a>, XRP was recently approved under the digital asset regime of the Dubai independent financial services regulatory body within the DIFC, <\/span>Dubai Financial Services Authority (DFSA)<\/span>.<\/span><\/p>\n

Related Reading: Dubai Watchdog Sounds The Alarm On Crypto Regulatory Blind Spots<\/a><\/div>\n

This achievement appears to be more significant than it seems. This is due to the position held by the DIFC as the top financial center not only in <\/span>Dubai<\/span><\/a> or the UAE, but also covering a huge territory, including the whole Middle East, Africa, and South Asia (MEASA) region.<\/span><\/p>\n

Additionally, for the past 20 years and counting, the DIFC has been the hub for a variety of financial initiatives, which makes it one of the major locations for companies, investors, and financial institutions in the MEASA area.<\/span><\/p>\n

With this approval, regulated cryptocurrency-focused businesses based in the MEASA region would be able to provide all kinds of cryptocurrency-related services using XRP. These include lending, and trading, among others.\u00a0<\/span><\/p>\n

Trade and investment within the MEASA region have benefited abundantly from the DIFC’s assistance. This is because it is crucial for connecting MEASA companies and investors with the rest of the globe.\u00a0<\/span><\/p>\n

Due to this, the financial hub’s legislative lucidity on XRP creates several opportunities for the crypto asset throughout the 72 MEASA member nations.<\/span><\/p>\n

\"XRP\"
XRP currently trading at $0.0606 | Source: XRPUSDT by Tradingview.com<\/a><\/figcaption><\/figure>\n

This is a significant achievement because despite XRP already enjoying regulatory clarity in several MEASA nations with pro-crypto laws, it may buttress its notoriety in the area.\u00a0 Thereby introducing the digital asset to a major number of MEASA firms whose headstations are located there.<\/span><\/p>\n

Another reason why the approval is impressive is because a lot of major players in the cryptocurrency ecosystem are from the MEASA region. These include crucial nations like the <\/span>United Arab Emirates<\/span><\/a>, <\/span>Egyp<\/span><\/a>t, <\/span>Qatar<\/span><\/a>, <\/span>Israel<\/span><\/a>, <\/span>Turkey<\/span><\/a>, <\/span>Saudi Arabia<\/span><\/a>, and <\/span>India<\/span><\/a>.\u00a0<\/span><\/p>\n

As part of the DIFC’s crypto asset regime, XRP has become the first cryptocurrency that the regulatory body authorized legally and regulatoryly through an external application.<\/span><\/p>\n

The digital asset is now the latest addition to other digital assets like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) in the region. However, these other assets were not approved through an external application.<\/span><\/p>\n

India The Leading Player In Cryptocurrency Adoption<\/span><\/h2>\n

India being in the MEASA region sparks a wider adoption of XRP as the country has been the top major player in cryptocurrency adoption since 2023.\u00a0<\/span><\/p>\n

According to an excerpt that was released in September by the New York-based blockchain analytics firm Chainalysis, it was revealed that <\/span>India was leading the charge in terms of grassroots cryptocurrency adoption.<\/span><\/a><\/p>\n

In addition, several other countries leading the grassroots crypto adoption appeared to be from the MEASA region, such as Vietnam, Pakistan, and Indonesia.<\/span><\/p>\n

Related Reading: XRP Ledger Market Cap Soars On Regulatory Success: 59% YTD Growth Achieved<\/a><\/div>\n

Nonetheless, XRP’s latest approval will buttress extensive regional payment solutions and use cases for several other crypto assets on the <\/span>XRP Ledger (XRPL).<\/span><\/a><\/p>\n

Featured image from Analytics Insight, chart by Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Ripple grabs yet another achievement with its recent legal and regulatory approval which will basically grant crypto-related firms within the Dubai International Financial Center (DIFC) the right to offer XRP services. Latest Approval Sparks Broader XRP Adoption According to a recent announcement, XRP was recently approved under the digital asset regime of the Dubai independent financial services regulatory body within the DIFC, Dubai Financial Services Authority (DFSA). Related Reading: Dubai Watchdog Sounds The Alarm On Crypto Regulatory Blind Spots This achievement appears to be more significant than it seems. This is due to the position held by the DIFC as the top financial center not only in Dubai or the UAE, but also covering a huge territory, including the whole Middle East, Africa, and South Asia (MEASA) region. Additionally, for the past 20 years and counting, the DIFC has been the hub for a variety of financial initiatives, which makes it one of the major locations for companies, investors, and financial institutions in the MEASA area. With this approval, regulated cryptocurrency-focused businesses based in the MEASA region would be able to provide all kinds of cryptocurrency-related services using XRP. These include lending, and trading, among others.\u00a0 Trade and investment within the MEASA region have benefited abundantly from the DIFC’s assistance. This is because it is crucial for connecting MEASA companies and investors with the rest of the globe.\u00a0 Due to this, the financial hub’s legislative lucidity on XRP creates several opportunities for the crypto asset throughout the 72 MEASA member nations. This is a significant achievement because despite XRP already enjoying regulatory clarity in several MEASA nations with pro-crypto laws, it may buttress its notoriety in the area.\u00a0 Thereby introducing the digital asset to a major number of MEASA firms whose headstations are located there. Another reason why the approval is impressive is because a lot of major players in the cryptocurrency ecosystem are from the MEASA region. These include crucial nations like the United Arab Emirates, Egypt, Qatar, Israel, Turkey, Saudi Arabia, and India.\u00a0 As part of the DIFC’s crypto asset regime, XRP has become the first cryptocurrency that the regulatory body authorized legally and regulatoryly through an external application. The digital asset is now the latest addition to other digital assets like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) in the region. However, these other assets were not approved through an external application. India The Leading Player In Cryptocurrency Adoption India being in the MEASA region sparks a wider adoption of XRP as the country has been the top major player in cryptocurrency adoption since 2023.\u00a0 According to an excerpt that was released in September by the New York-based blockchain analytics firm Chainalysis, it was revealed that India was leading the charge in terms of grassroots cryptocurrency adoption. In addition, several other countries leading the grassroots crypto adoption appeared to be from the MEASA region, such as Vietnam, Pakistan, and Indonesia. Related Reading: XRP Ledger Market Cap Soars On Regulatory Success: 59% YTD Growth Achieved Nonetheless, XRP’s latest approval will buttress extensive regional payment solutions and use cases for several other crypto assets on the XRP Ledger (XRPL). Featured image from Analytics Insight, chart by Tradingview.com<\/p>\n","protected":false},"author":608,"featured_media":559043,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[89796,89794,89795,4531,84758,88178,10972,78763],"class_list":["post-559038","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-dfsa","tag-difc","tag-measa","tag-xrp","tag-xrp-ledger","tag-xrpl","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\nRipple Achieves Regulatory Approval To Offer XRP Services<\/title>\n<meta name=\"description\" content=\"XRP grabs yet another achievement with its recent legal and regulatory approval from the Dubai International Financial Center (DIFC).\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life. My parents are literally the backbone of my story. They\u2019ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won\u2019t trade them for anything else in this world. I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments. When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency. Trust me, I\u2019ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that\u2019s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets. My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies. Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people - people who make an impact in my life no matter how little it is. One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others. I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams. I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I\u2019m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top. I aspire to be a boss someday, having people work under me just as I\u2019ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.","sameAs":["https:\/\/x.com\/NFTwerey"],"url":"https:\/\/wncen.com\/author\/godspowerowie\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ripple Achieves Regulatory Approval To Offer XRP Services","url":"http:\/\/wncen.com\/news\/ripple\/regulatory-approval-to-offer-xrp-services\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ripple\/regulatory-approval-to-offer-xrp-services\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/XRP-logo-by-Analytics-Insight.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/XRP-logo-by-Analytics-Insight.png?fit=730%2C397"},"articleSection":"Ripple","author":[{"@type":"Person","name":"Godspower Owie"}],"creator":["Godspower Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["dfsa","difc","measa","xrp","xrp ledger","xrpl","xrpusd","xrpusdt"],"dateCreated":"2023-11-03T17:00:29Z","datePublished":"2023-11-03T17:00:29Z","dateModified":"2024-06-11T07:56:43Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ripple Achieves Regulatory Approval To Offer XRP Services\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple\\\/regulatory-approval-to-offer-xrp-services\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple\\\/regulatory-approval-to-offer-xrp-services\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/XRP-logo-by-Analytics-Insight.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/XRP-logo-by-Analytics-Insight.png?fit=730%2C397\"},\"articleSection\":\"Ripple\",\"author\":[{\"@type\":\"Person\",\"name\":\"Godspower Owie\"}],\"creator\":[\"Godspower Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"dfsa\",\"difc\",\"measa\",\"xrp\",\"xrp ledger\",\"xrpl\",\"xrpusd\",\"xrpusdt\"],\"dateCreated\":\"2023-11-03T17:00:29Z\",\"datePublished\":\"2023-11-03T17:00:29Z\",\"dateModified\":\"2024-06-11T07:56:43Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/XRP-logo-by-Analytics-Insight.png?fit=730%2C397","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/559038","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/608"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=559038"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/559038\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/559043"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=559038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=559038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=559038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}