Ripple has received regulatory approval from the Dubai Financial Services Authority (DFSA) for its RLUSD stablecoin, marking another step in the company’s expansion into the Middle East. The DFSA, which oversees operations in the Dubai International Financial Centre (DIFC), has now officially added RLUSD to its list of authorized crypto tokens.
This approval allows businesses operating within the DIFC to utilize RLUSD for services such as payments, treasury activities, and other digital asset-based solutions. The DIFC, a key financial hub spanning the Middle East, Africa, and South Asia, counted nearly 7,000 companies at the close of 2024.
The DFSA permits only approved tokens to be used across the DIFC’s regulated environment, and RLUSD now joins that select list.
Ripple Sees Strong Demand in the UAE
Ripple reports that interest in digital asset services is surging across the UAE. “The digital economy here is fast-paced and full of potential,” said Reece Merrick, Ripple’s Managing Director for the Middle East and Africa. “We’re witnessing a major uptick in demand for solutions like cross-border payments and digital asset custody.”
Ripple has partnered with local firms such as digital bank Zand and fintech platform Mamo, which are expected to be among the first to adopt its regulated payment services.
RLUSD will also play a key role in supporting the Dubai Land Department’s initiative to tokenize real estate assets. This project, which began its pilot phase in March, aims to leverage blockchain technology to register property title deeds directly on the XRP Ledger.
Global Momentum Behind Ripple’s Expansion
The DFSA’s greenlight for RLUSD comes shortly after Ripple secured full operational licensing in the DIFC on March 13. This milestone allows the firm to offer a wider range of crypto services in Dubai’s financial district.
RLUSD is one of the few stablecoins recognized both by the DFSA and by the New York Department of Financial Services (NYDFS), which approved it back in December 2024 under its Trust Company Charter.
In addition to RLUSD, the DFSA has authorized other major stablecoins including USDC and EURC, issued by Circle, for use within the DIFC’s regulatory framework.
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