Cryptopolitan
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Ripple’s stablecoin RLUSD has been approved for use within Dubai’s DIFC
Ripple’s stablecoin RLUSD has been officially approved for use inside the Dubai International Financial Centre (DIFC) by the Dubai Financial Services Authority (DFSA), according to an announcement from the company on Tuesday.
This approval now legally allows RLUSD to be used by Ripple and other DFSA-licensed businesses within Dubai’s financial free zone. Ripple says RLUSD is backed 1:1 with US dollars, supported by high-quality liquid assets, with segregated reserves, external audits, and clear redemption rights.
The stablecoin is reportedly designed for enterprises, not casual retail use. Jack McDonald, Ripple’s Senior Vice President of Stablecoins, said the new approval reflects the company’s goals. “The DFSA’s approval of RLUSD is proof of our commitment to building a stablecoin that meets the highest standards of trust, transparency and utility,” Jack said.
He added that the stablecoin’s regulatory-first design is tailored to push institutional use of blockchain across international markets, beginning with cross-border payments.
Ripple integrates RLUSD into its payments system
With the DFSA’s approval in place, Ripple now has the ability to embed RLUSD into its DFSA-licensed payments solution. This lets the company combine the functions of a blockchain-based infrastructure with a trusted digital dollar that can operate smoothly across its existing global payout network.
Unlike stablecoins created for users swapping tokens on exchanges, RLUSD was developed for businesses needing more reliable transaction rails. It targets the speed, cost, and complexity issues common in traditional international payments.
The approval also extends to any other licensed company working inside the DIFC. That means RLUSD can now be legally used by other DFSA-regulated firms. The DIFC had nearly 7,000 companies operating at the close of 2024, according to Ripple, showing a broad field of potential adopters.
Ripple claims it has seen a 55% year-over-year jump in stablecoin activity across the region in 2024. Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, described the region as a hotbed of crypto activity. “The DFSA’s approval of RLUSD is yet another step forward for Ripple’s operations in the region,” Reece said.
Ripple is already locking in deals to put its regulated infrastructure to work. The company recently confirmed that Zand Bank and Mamo will be the first customers in the UAE to start using Ripple’s blockchain-powered payments offering.
The announcement also comes alongside Ripple’s new partnership with local firm Ctrl Alt, which will support the Dubai Land Department’s (DLD) new Real Estate Tokenization Project. That initiative will involve placing real estate title deeds directly onto the XRP Ledger, bringing blockchain to land ownership in a tangible, government-backed way.
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This approval now legally allows RLUSD to be used by Ripple and other DFSA-licensed businesses within Dubai’s financial free zone. Ripple says RLUSD is backed 1:1 with US dollars, supported by high-quality liquid assets, with segregated reserves, external audits, and clear redemption rights.
The stablecoin is reportedly designed for enterprises, not casual retail use. Jack McDonald, Ripple’s Senior Vice President of Stablecoins, said the new approval reflects the company’s goals. “The DFSA’s approval of RLUSD is proof of our commitment to building a stablecoin that meets the highest standards of trust, transparency and utility,” Jack said.
He added that the stablecoin’s regulatory-first design is tailored to push institutional use of blockchain across international markets, beginning with cross-border payments.
Ripple integrates RLUSD into its payments system
With the DFSA’s approval in place, Ripple now has the ability to embed RLUSD into its DFSA-licensed payments solution. This lets the company combine the functions of a blockchain-based infrastructure with a trusted digital dollar that can operate smoothly across its existing global payout network.
Unlike stablecoins created for users swapping tokens on exchanges, RLUSD was developed for businesses needing more reliable transaction rails. It targets the speed, cost, and complexity issues common in traditional international payments.
The approval also extends to any other licensed company working inside the DIFC. That means RLUSD can now be legally used by other DFSA-regulated firms. The DIFC had nearly 7,000 companies operating at the close of 2024, according to Ripple, showing a broad field of potential adopters.
Ripple claims it has seen a 55% year-over-year jump in stablecoin activity across the region in 2024. Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, described the region as a hotbed of crypto activity. “The DFSA’s approval of RLUSD is yet another step forward for Ripple’s operations in the region,” Reece said.
Ripple is already locking in deals to put its regulated infrastructure to work. The company recently confirmed that Zand Bank and Mamo will be the first customers in the UAE to start using Ripple’s blockchain-powered payments offering.
The announcement also comes alongside Ripple’s new partnership with local firm Ctrl Alt, which will support the Dubai Land Department’s (DLD) new Real Estate Tokenization Project. That initiative will involve placing real estate title deeds directly onto the XRP Ledger, bringing blockchain to land ownership in a tangible, government-backed way.
Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites
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