Breaking: Ripple Stablecoin (RLUSD) Approved in Dubai
Highlights
- Dubai’s DFSA has officially approved Ripple RLUSD stablecoin, making it legal for use within the DIFC.
- The approval enables 7k+ companies in DIFC to use RLUSD for regulated enterprise-grade financial transactions.
- Ripple’s RLUSD is expanding rapidly amid multiple exchange listings.
The popular Ripple stablecoin, RLUSD, has received recognition as a crypto token in Dubai. The token launched in December 2024 has been making significant milestones ever since its launch and aims to revolutionize cross-border transactions with its 1:1 USD or cash backing, regulatory clarity, and transparency.
Dubai Approved Ripple Stablecoin RLUSD
According to the official Ripple announcement, RLUSD stablecoin has been approved in Dubai after receiving regulatory approval from the Dubai Financial Services Authority (DFSA). As a result, it is now legally allowed and permitted for use within the Dubai International Financial Centre (DIFC), which is a special economic zone.
More importantly, the 7,000 companies operating within the DIFC can utilize this stablecoin for enterprise-grade financial transactions. Besides, it is now regulated in both Dubai and New York. Dubai approval signals its stronghold on global compliance and practical use.
This decision complies with Dubai’s growing crypto adoption as it is among the top digital asset hubs. Interestingly, Solana has signed an MOU with the VARA, Dubai’s Virtual Assets Regulatory Authority. This is to enhance collaboration between crypto builders and regulators.
Besides, Ripple reports mentioned that the stablecoin transaction in the UAE in 2024 rose 55% YoY. As a result, it is the ideal decision for the country. More importantly, it’s among the few top stablecoins that are issued under the NYDFS Trust Company Charter.
As a result, it emphasizes that it has strong regulatory backing.
Ripple’s Ongoing Partnership With Dubai & Other RLUSD Milestones
Dubai’s acknowledgement of the Ripple RLUSD stablecoin is a major milestone and could fuel its adoption in cross-border transactions and business payments. Ripple is already supporting the Dubai Land Department’s Real Estate Tokenization Project through a partnership with Ctrl Alt, using the XRP Ledger.
As Ripple expands its regional footprints, RLUSD’s scope beyond payments is possible, especially as its demand is high. Just recently, Bitget listed RLUSD stablecoin, making it the fourth centralized crypto exchange listing.
Others include Kraken, Gemini, and LMAX Digital. It is also the 15th biggest stablecoin in the market. However, Ripple CEO Brad Garlinghouse sees it as becoming the gold standard for enterprise-grade tokens.
Frequently Asked Questions (FAQs)
1. What is Ripple’s RLUSD stablecoin?
2. Is RLUSD legally approved in Dubai now?
3. Which crypto exchanges have listed RLUSD?
- USDH Launch Boosts Hyperliquid Amid Competitive Market Pressure
- SEC to Decide on Six Spot XRP ETF Applications in October
- Ripple Partners with Ondo Finance to Tokenize U.S. Treasuries on XRPL
- Ethereum Exchange Supply Drops 52% as $3,700 Liquidation Risk Grows
- XRP News: mXRP Vault Surpasses $22M as Investors Capitalize on Staking Rewards
- Pepe Coin Price Bounce Likely as Support Zone Aligns With Rising Social Activity
- Solana Price Set for Recovery Amid Wyckoff Accumulation and Canary Capital ETF Filing
- Avalanche Price Could Surge to $50 as Transactions Jump 200%
- CHMPZ Price Prediction:Will This Net-Zero Community Token be the Next Gem?
- Ethereum (ETH) Price Set for a rebound as Whales Accumulate $1.6B ETH and Outflows Hit $622M
- HYPE Price Prediction As Bitwise Files For Hyperliquid ETF – Is $55 In Sight?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
