Scan to Download Gate App
qrCode
More Download Options
Don't remind me again today

Ripple's RLUSD stablecoin has received the green light from the UAE.

robot
Abstract generation in progress

Ripple's RLUSD stablecoin, backed by USD, has just been officially recognized by the Abu Dhabi Global Market (ADGM) as an “Accepted Fiat-Referenced Token”, allowing licensed companies to use RLUSD for regulated financial activities. This decision places RLUSD in the restricted group of tokens permitted within ADGM's tightly controlled financial system.

This is an important step in Ripple's expansion in the Middle East, after operating in Bahrain and being adopted by many banks and payment companies in the Gulf region. Launched at the end of 2024 under a trust license from New York DFS, RLUSD has surpassed 1.2 billion USD in circulating supply, becoming the 10th largest stablecoin by market capitalization. The demand from institutions for USD tokens with clear reserve regulations drives growth. ADGM provides a transparent legal environment, friendly to banks, helping Ripple access the market where regulated stablecoins are considered essential infrastructure.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)