Ripple’s Stablecoin Rlusd officially approved in Dubai – Unique Double License

Ripple (XRP) has reached an important milestone with the Stablecoin Rlusd. The currency has now been officially approved by both the New York regulator and the Dubai Financial Services Authority (DFSA), which makes use possible within the prestigious Dubai International Financial Center (DIFC).

RLUSD meets strictest requirements

The Stablecoin Rlusd, fully covered by liquid assets and regularly checked externally, has been developed for institutional use. According to Jack McDonald, CEO Stablecoins at Ripple, the approval by the DFSA confirms the use of the company for “trust, transparency and usability”.

Thanks to the license, RLUSD can be integrated into Ripple’s DFSA-regulated payment platform, which runs on the XRP Ledger. This platform facilitates fast and cheap cross -border payments, with a clear regulatory framework as an additional benefit.

Stablecoin market grows explosively in the VAE

The DIFC houses around 7,000 companies. Various providers of virtual assets have already indicated that they will support RLUSD soon. The demand for Stablecoins in the United Arab Emirates increased by no less than 55 percent in 2024. The double license makes RLUSD one of the few Stablecoins worldwide with coverage in both the US and the Middle East.

Ripple increases influence in the region

Ripple quickly expands his presence in the Middle East. The company cooperates with Zand Bank and Fintech company Mamo and supports the Dubai Land Department in the token touring real estate via the XRP Ledger.

Reece Merrick, director of Middle East and Africa at Ripple, praises the progressive attitude of the VAE in the field of crypto regulations. He sees an increasing demand for blockchain solutions for payments and asset management.

Since the launch in December 2024, RLUSD has been available on both the XRP Ledger and Ethereum (ETH). There are plans to also use the Stablecoin in Cardano’s (ADA) Defi-eco system and as collateral on the Institutional Platform of Hidden Road, which was recently taken over by Ripple.