Ripple’s RLUSD Stablecoin Approved for Use in Dubai’s Financial Hub
- The Dubai Financial Services Authority (DFSA) has approved Ripple USD (RLUSD) for use in the Dubai International Financial Centre (DIFC).
- RLUSD is now recognized alongside stablecoins with regulatory legitimacy in New York and Dubai.
- This approval allows integration of RLUSD into DFSA-licensed payment solutions, impacting nearly 7,000 firms in the DIFC.
- Ripple’s entry into the UAE taps into a $40 billion cross-border payments market.
- Stablecoin transactions in the UAE increased by 55% year-on-year during 2024.
The DFSA’s approval of Ripple USD (RLUSD) marks a significant step for Ripple, enabling its integration into nearly 7,000 DFSA-licensed firms within the DIFC and tapping into the UAE’s expanding $40 billion cross-border payments market.
Source (2.6)https://cryptobriefing.com/ripple-stablecoin-approval-difc/?rand=59535
