Ripple's RLUSD stablecoin officially approved by the Dubai Financial Service Authority.

## Ripple’s RLUSD approved in Dubai

Ripple announced on the 3rd that its issued stablecoin “RLUSD” has been approved as a “certified crypto token” by the Dubai Financial Services Authority (DFSA).

RLUSD has become available within the Dubai International Financial Centre (DIFC), further solidifying its position as a stablecoin for enterprises that combines regulatory compliance, transparency, and practicality.

RLUSD is a stablecoin issued under the trust company license from the New York State Department of Financial Services (NYDFS). In addition to a 1:1 backing with USD, it features advanced security designs such as strict reserve management, asset segregation, third-party audits, and clear redemption rights, meeting the high expectations of corporations and regulatory authorities.

Ripple has strengthened its presence in the region since establishing its Middle East headquarters in DIFC in 2020. With the recent approval from DFSA, Ripple is now able to integrate RLUSD into its licensed payment solutions in Dubai.

The company plans to promote RLUSD as a corporate solution to eliminate traditional inefficient international remittance methods. They aim to combine the stable value of the digital dollar, a scalable blockchain infrastructure, and Ripple’s extensive payment network.

Increase in demand for stablecoins in the Middle East

DIFC is a financial hub in the Middle East, Africa, and South Asia (MEASA) region, with approximately 7,000 companies operating as of the end of 2024.

According to Ripple, there is a growing demand among cryptocurrency companies and financial institutions in the Middle East for more efficient international remittance solutions. Market data for 2024 shows that stablecoin transactions in the region have increased by 55% year-on-year, and the practical application of stablecoins is advancing under the UAE’s progressive digital asset regulatory framework.

The Managing Director for the Middle East and Africa (MEA) region at Ripple, Rhys Merick, stated, “The UAE is establishing a global benchmark in digital asset regulation and innovation,” and added, “The approval of RLUSD by the DFSA is an important step to support Ripple’s regional expansion. There is a rapidly increasing interest from companies in cross-border payments and digital asset custody, and we will continue to collaborate with regional partners and regulatory authorities to support market growth.”

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