by Simon Peters, Crypto Analyst at eToro
Ripple Secures DFSA Approval for Regulated Crypto Payments and Services
Ripple has recently achieved a significant milestone by securing regulatory approval from the Dubai Financial Services Authority (DFSA), positioning it as the first blockchain payments provider to be licensed in the Dubai International Financial Centre (DIFC). This approval marks a key development for Ripple, enabling fully regulated cross-border crypto payments in the UAE, Simon Peters, Crypto Analyst at eToro commented.
With this achievement, the UAE will benefit from faster, more affordable, and transparent crypto transactions. The utility of such payment systems is expected to drive increased adoption of stablecoins in the region. Stablecoins offer real-time settlement capabilities, significantly reducing the processing time compared to traditional banking systems, which often take several days for cross-border transactions.
Ripple’s RLUSD stablecoin, which was launched globally in late December, has already exceeded $130 million in market capitalization.
Crypto Markets Experience a Rebound
After hitting their lowest levels since early November 2024, crypto markets have begun to recover. The total market capitalization fell to $2.44 trillion on Tuesday, but has since risen to $2.69 trillion. Bitcoin, in particular, saw its value dip to $76,600 before optimism was sparked by cooler-than-expected inflation data from the US, giving risk assets some much-needed relief. Simon Peters, Crypto Analyst at eToro said.
The focus now shifts to the upcoming interest rate decision on Wednesday, where the US Federal Reserve is expected to maintain rates at 4.5%. However, Fed Chair Jerome Powell’s subsequent press conference may provide crucial insights into future monetary policy and interest rate projections.
The Fed faces the challenge of reducing inflation to target levels without triggering a recession. Complicating matters further, tariffs imposed by President Trump could hinder economic growth and drive prices higher.
