CoinDesk 2025-06-03 08:15:58

Ripple’s Stablecoin, RLUSD, Gets Stamp of Approval in Dubai

Ripple’s U.S dollar pegged RLUSD has received regulatory approval from Dubai’s financial watchdog, clearing the way for its use within the Dubai International Financial Centre (DIFC), the company said Tuesday. The Dubai Financial Services Authority’s decision means RLUSD can now be integrated into Ripple’s licensed payments platform and potentially leveraged by other DFSA-registered entities. That development could help expand Ripple’s footprint in the region’s fast-growing digital asset ecosystem, where regulatory clarity has been a key factor driving adoption. “This approval reinforces RLUSD’s position as a stablecoin built with regulatory compliance and transparency at its core,” Ripple said in a statement. RLUSD is 1:1 backed by U.S. dollars held in high-quality liquid assets and subject to third-party audits, a move aimed at addressing institutional concerns around stablecoin reserves. However, questions remain about real-world adoption. While RLUSD’s approval theoretically allows DFSA-regulated firms to use the token, it’s unclear how many will actually integrate the stablecoin into their systems. The approval comes as Ripple continues to build its presence in the UAE. Recent partnerships include agreements with local banks and payments firms like Zand Bank and Mamo, and the company has also teamed up with Ctrl Alt on a real estate tokenization project for Dubai’s Land Department. Institutional stablecoin adoption has grown rapidly in the UAE, with Ripple citing a 55% year-over-year increase in transactions.