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Dubai Incorporates XRP Into Special Economic Zone

The Dubai International Financial Centre (DIFC) has approved two crypto assets, XRP and Toncoi (TON), to be incorporated into its Special Economic Zone (SEZ). The two new assets are joining Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTE), which were approved earlier. The move will allow over 4000 financial institutions and companies within the DIFC to utilize XRP and TON. According to Brad Garlinghouse, CEO of Ripple, “It’s 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.” The Dubai Financial Services Authority (DFSA), which governs the DIFC, brought in crypto regulations two years ago, in October 2021.

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