EddieJayonCrypto
4 Jun 25
The Dubai Financial Services Authority (DFSA) has approved Ripple’s RLUSD stablecoin for use within the Dubai International Financial Centre (DIFC), making it the third stablecoin regulated under the DIFC’s cryptocurrency framework. This follows Ripple's approval to offer blockchain payment services...
The Dubai Financial Services Authority (DFSA) has approved Ripple’s RLUSD stablecoin for use within the Dubai International Financial Centre (DIFC), marking it as the third stablecoin regulated under the DIFC’s crypto framework.Following earlier approval granted to Ripple for offering blockchain payment services in the DIFC, this green light allows RLUSD integration into Ripple’s global payment network and enables other DFSA-licensed firms in the region to utilize the stablecoin.Ripple’s Middle East Managing Director, Reece Merrick, emphasized the UAE’s growing role as an international hub for real-time cross-border payments, predicting that stablecoins like RLUSD will reduce costs and friction for local businesses.The DIFC’s progressive financial regulations and consistent economic growth foster a fertile environment for blockchain innovation and stablecoin adoption.RLUSD operates on both the XRP Ledger and Ethereum blockchains, broadening its flexibility and scalability across payments, decentralized finance (DeFi), and asset tokenization. Currently listed on numerous global platforms—including Gemini, Kraken, and Aave—Ripple aims to expand RLUSD’s global reach.The stablecoin also holds a limited purpose trust charter from the New York Department of Financial Services, subjecting it to one of the world’s most stringent banking regulatory frameworks.Since its December launch, RLUSD has ranked as the 20th-largest stablecoin by market capitalization, valued at approximately $333.6 million. Ripple’s extensive experience and extensive payment network, which spans over 90 payout markets and has processed more than $70 billion to date, have contributed to RLUSD’s impressive adoption, reflected in over $10 billion in trading volume.This regulatory approval and robust infrastructure position RLUSD as a pioneering player poised to drive the next wave of adoption in the fast-growing stablecoin market, which already exceeds $250 billion globally.