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