Dubai Financial Watchdog Approves Ripple’s RLUSD Stablecoin for Use in DIFC
Ripple has announced that its U.S. dollar-pegged stablecoin, RLUSD, has received regulatory approval from the Dubai Financial Services Authority (DFSA), paving the way for its adoption within the Dubai International Financial Centre (DIFC).
With this green light, RLUSD can be integrated into Ripple’s authorized payments platform and potentially utilized by other DFSA-licensed entities, expanding Ripple’s influence in the rapidly evolving Middle Eastern digital asset market.
This regulatory clearance highlights Ripple’s commitment to building a transparent and compliant stablecoin, fully backed 1:1 by U.S. dollars held in high-quality liquid assets, and subjected to independent audits to address institutional concerns.
While the approval opens new avenues for RLUSD, market watchers remain cautious about the extent to which DFSA-registered firms will adopt the stablecoin in practice.
Ripple is actively growing its footprint in the UAE, having recently forged partnerships with Zand Bank and Mamo, and collaborating with Ctrl Alt on a pioneering real estate tokenization project for Dubai’s Land Department.
The company also noted a robust 55% year-over-year growth in institutional stablecoin transactions within the UAE, signaling rising demand for regulated digital currencies.
