The Dubai Financial Services Authority (DFSA) has approved Ripple’s flagship stablecoin, Ripple USD (RLUSD), for use within the Dubai International Financial Centre (DIFC), strengthening the firm's foothold in Dubai and paving the way for innovative cross-border payment solutions.
This regulatory approval allows nearly 7,000 DFSA-licensed firms in the DIFC to integrate RLUSD into their virtual asset services, following Ripple’s March license to offer crypto payments in Dubai—its first in the Middle East. RLUSD, which has surpassed $310 million in market valuation since its late 2024 launch, is now recognized in both Dubai and New York, positioning it as a trusted stablecoin for institutional use.
The UAE’s stablecoin adoption has surged, with a 55% year-on-year transaction increase in 2024, reflecting strong business demand for digital asset solutions. Ripple’s partnerships with Zand Bank, Mamo, and Ctrl Alt further highlight its growing influence in the region’s $40 billion cross-border payments market and real estate tokenization initiatives. Read more here Ribble's Stablecoin https://buff.ly/0eoRia9
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