Ripple's RLUSD Stablecoin Approved in Dubai, Boosting Crypto Expansion
Ripple is making big moves in the Middle East. On June 3, the company announced that its enterprise-focused stablecoin, RLUSD, has been officially approved for use in Dubai’s financial free zone—a major milestone in Ripple's global expansion strategy.
The Dubai Financial Services Authority (DFSA) has recognized RLUSD as an approved crypto token for operations within the Dubai International Financial Centre (DIFC). This approval places Ripple in a strong position to lead the UAE’s fast-evolving digital asset landscape.
What the Approval Means
This move allows Ripple to integrate RLUSD into its licensed payment ecosystem in Dubai, significantly improving its cross-border settlement capabilities. Ripple highlighted that RLUSD is:
Issued under the New York Department of Financial Services (NYDFS) Trust Company Charter
Backed 1:1 with U.S. dollars held in high-quality liquid assets
Built with a focus on transparency, strong reserve management, and institutional-grade controls
These features make RLUSD ideal for global enterprises seeking reliable, compliant stablecoin solutions for cross-border transactions.
Ripple’s Wider Impact in Dubai
The DFSA approval also opens the door for other DFSA-licensed firms in the DIFC to adopt RLUSD in their own virtual asset services. With nearly 7,000 firms active in the DIFC at the end of 2024, RLUSD is well-positioned to become a key player in Dubai’s growing fintech and digital asset ecosystem.
Ripple’s efforts in the region don’t stop there. The company has also partnered with:
Zand Bank
Mamo
Ctrl Alt and Dubai Land Department (to tokenize real estate using the XRP Ledger)
These partnerships underline Ripple’s long-term commitment to supporting UAE’s digital finance transformation.
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