🤑🤑🤑Ripple Labs' stablecoin has received approval from the Dubai regulator!!!🤑🤑🤑
The DFSA has approved the RLUSD stablecoin.
Besides it, only USDC and EURC from Circle have been allowed for circulation in the DIFC.
This means that Ripple Labs' stablecoin can be used by companies in the special economic zone.
Ripple Labs' stablecoin — RLUSD — has received approval from the Dubai Financial Services Authority (DFSA). The first counterparties to implement the asset into their products will be Zand Bank and Mamo.
It is worth noting that the DFSA is the regulator responsible for the special economic zone of the Dubai International Financial Centre (DIFC). Only those crypto assets that have received approval from local authorities are available for circulation here.
Recognition of RLUSD will enable companies operating in the DIFC to include the stablecoin in their products and services. Among the first are neobank Zand Bank and the Mamo platform. The company signed agreements with them in mid-May 2025.
"The UAE's digital economy is vibrant and incredibly dynamic. We are witnessing immense interest from businesses of all sizes in cross-border payment solutions and the storage of digital assets," said Ripple's Managing Director for the Middle East and Africa, Rhys Merrick.
Moreover, Ripple Labs indicated that RLUSD, like the XRP Ledger blockchain, will become part of the Dubai Land Department (DLD) project for real estate tokenization.
In addition to RLUSD, the Dubai regulator has also approved Circle's stablecoins — USDC and EURC. The firm became the first issuer of stablecoins whose assets were allowed in the DIFC.
