News Roundup — Ripple Bags Dubai License to Offer Crypto Payments in UAE

Major news stories this week;‍

1. Ripple Bags Dubai License to Offer Crypto Payments in UAE‍
2. Abu Dhabi’s MGX Backs Binance With $2B Stablecoin Investment‍
3. Russia’s MinFin Says It Wants to Curb Unregulated Crypto Activity With National Infrastructure‍
4. Sen. Lummis Reintroduces Bill to Create Trump's Planned Strategic Bitcoin Reserve‍
5. Thailand Regulator Adds USDC, USDT Stablecoins to Approved Cryptocurrencies

Story Summaries;

1. Ripple has received approval from the Dubai Financial Services Authority (DFSA) to offer regulated crypto payments and services in the UAE, making it the first blockchain-enabled payments provider licensed by the agency. CEO Brad Garlinghouse highlighted the UAE’s leadership in crypto regulation and innovation. Ripple already has 20% of its global customer base in the Middle East and expects stablecoin adoption to grow, benefiting its RLUSD stablecoin. This approval adds to over 60 regulatory licenses worldwide, while XRP prices surged 4% amid reports of a nearing settlement in Ripple’s case against the SEC.
2. Abu Dhabi-based investment firm MGX has invested $2 billion in Binance, marking one of the largest funding deals in crypto history and Binance's first institutional investment. The deal, funded entirely through stablecoins, signals MGX’s entry into crypto, aligning with its focus on AI, blockchain, and finance innovation. Binance, the world’s largest crypto exchange with 260 million users, continues to dominate despite increasing regulatory scrutiny. The investment comes amid rising venture capital interest in crypto, with 2025 expected to surpass $18 billion in funding, driven by improving macroeconomic conditions and regulatory clarity.
3. Russia’s Ministry of Finance is working on national infrastructure to regulate crypto and move it out of the "gray zone," according to Deputy Minister Ivan Chebeskov. In collaboration with the Bank of Russia, the plan includes an experimental legal regime to ensure compliance. While crypto settlements within Russia remain off the table, the initiative aims to legalize digital currency circulation. The Bank of Russia has also proposed a framework allowing high-net-worth investors to trade crypto under strict regulations.
4. Sen. Cynthia Lummis has reintroduced the BITCOIN Act, a bill to establish a strategic Bitcoin reserve, aligning with President Trump’s recent executive order on the matter. The bill proposes a decentralized network of secure Bitcoin vaults and a 1-million-unit Bitcoin purchase program to acquire around 5% of Bitcoin’s total supply, similar to U.S. gold reserves. The initiative aims to strengthen the U.S. economy and address national debt by diversifying federal funds. The bill has support from several Republican lawmakers and a companion bill in the House.
5. Thailand’s SEC has approved Tether’s USDT and Circle’s USDC as trading pairs on digital asset exchanges, expanding its list of approved cryptocurrencies. This decision follows a public consultation and aligns Thailand with global trends in stablecoin adoption. The new rules take effect on March 16, allowing broader acceptance of USDT and USDC in the country’s financial sector.
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And that’s all for last week’s news! Wishing you a great week ahead!