Dubai’s DFSA has banned privacy tokens and mixers in the DIFC, narrowed the definition of stablecoins, and shifted token listing suitability checks from a regulator whitelist to firms themselves.

XRP rose 3.32% to $1.42 as a major XRPL pilot, Ripple partnership updates, a Dubai license, and $1.32 billion in cumulative ETF inflows drew market focus.

Ripple has taken an equity stake in Flutterwave at a $3.3 billion valuation, adding a major African payments network to its infrastructure push across emerging markets.

The Central Bank of the UAE grants approval to AED Stablecoin LLC to issue AE Coin, the first regulated stablecoin in the country. Fully backed by the Dirham, it enables fast, low-cost transactions under central bank oversight.

Dubai approved its first law to regulate virtual assets and established the Dubai Virtual Assets Regulatory Authority (VARA) to oversee crypto activities, aiming to position the UAE as a global leader in the virtual asset space.

The Dubai Financial Services Authority (DFSA) has approved XRP as a recognized crypto token within the Dubai International Financial Centre (DIFC), making it the first virtual asset approved through the external application regime. Ripple says institutions in the DIFC can now use XRP for faster global payments.

DFSA adds XRP to its list of recognized crypto tokens, allowing licensed firms in DIFC to offer XRP-based services. Ripple hails the move as a milestone for regulatory clarity in the Middle East.

Dubai’s DFSA has approved XRP as a recognized crypto token within the DIFC, allowing licensed virtual asset firms to incorporate it into services under a clearer regulatory framework.