Ripple announced on June 3 that its enterprise-focused stablecoin, RLUSD, has received regulatory clearance to operate within Dubai’s key financial free zone, marking a significant step in the company’s expansion into the Middle East. The company confirmed the approval in a statement:

RLUSD has been approved as a recognized crypto token by the Dubai Financial Services Authority (DFSA) for use within the Dubai International Financial Centre (DIFC).

The authorization follows a trend of increasing institutional interest in compliant digital payment infrastructure across the United Arab Emirates, where demand for stablecoins has surged alongside progressive regulation.

The DFSA’s designation enables RLUSD to become part of Ripple’s licensed payment ecosystem in the DIFC, enhancing the company’s cross-border settlement capabilities. Ripple explained: “This recognition allows Ripple to integrate RLUSD into its DFSA-licensed flagship payments solution.” The stablecoin, issued under the New York Department of Financial Services (NYDFS) Trust Company Charter, is backed one-to-one with U.S. dollars held in high-quality liquid assets. Designed with transparency, strict reserve management, and institutional-grade controls, RLUSD aims to meet the operational needs of global enterprises transacting across jurisdictions.

Beyond Ripple’s own use, the approval paves the way for broader industry adoption within Dubai’s fast-growing fintech corridor. “The approval also enables other DFSA-licensed firms in the fast-growing DIFC to incorporate RLUSD into their virtual assets services,” the company stated, adding:

With almost 7,000 firms active at the end of 2024, this further supports the integration of high-quality stablecoins into Dubai’s burgeoning digital assets and fintech ecosystem.

The announcement complements Ripple’s regional efforts, which include partnerships with Zand Bank and Mamo, as well as collaboration with Ctrl Alt and the Dubai Land Department to tokenize real estate assets on the XRP Ledger. These developments position RLUSD to play a key role in the UAE’s digital finance transformation.

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