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Ripple has secured regulatory approval from the Dubai Financial Services Authority (DFSA) to make its RLUSD stablecoin available within the Dubai International Financial Centre (DIFC).
The announcement, made on June 3, signals Ripple’s push to integrate RLUSD into the region’s fast-evolving digital asset landscape, particularly with an eye on enterprise-level applications.
RLUSD enters DIFC through DFSA’s crypto token regime
With this approval, RLUSD is now classified as a recognized crypto token under the DFSA’s digital asset framework, allowing it to be used as a payment option within DIFC’s jurisdiction.
RLUSD, pegged 1:1 to the U.S. dollar and backed by high-quality liquid assets, was built to comply with strict regulatory expectations.
It also holds the distinction of being issued under a New York Department of Financial Services (NYDFS) Trust Company Charter, making it one of the few stablecoins with approval from both U.S. and UAE regulators.
Ripple stated that the stablecoin is designed for institutional use cases, specifically, enterprise-grade cross-border payments, rather than retail applications.
RLUSD will now be integrated into Ripple’s licensed payment infrastructure in the region, offering participating businesses a blockchain-based alternative to traditional banking rails.
Institutional adoption and Ripple’s broader expansion
Ripple’s regional strategy includes allowing DFSA-licensed firms to plug RLUSD into their own virtual asset services.
With roughly 7,000 firms operating in DIFC as of late 2024, the stablecoin’s entry point is strategically placed to support Dubai’s growing reputation as a fintech hub.
The UAE has seen a sharp rise in stablecoin activity, with transaction volumes up 55% year-on-year in 2024, driven by demand for efficient, transparent financial instruments.
Ripple’s ongoing efforts in the region include partnerships with firms like Zand Bank and Mamo for regulated payments, and a collaboration with Ctrl Alt on the Dubai Land Department’s real estate tokenization initiative.
According to Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, the approval reinforces the UAE’s role as a digital asset innovation leader. The rollout of RLUSD in Dubai adds to Ripple’s momentum in bridging regulated financial services with blockchain-native solutions.
