Ripple, the leader in enterprise blockchain and crypto solutions, today announced that its stablecoin, RLUSD, has been approved as a recognised crypto token by the Dubai Financial Services Authority (DFSA) for use within the Dubai International Financial Centre (DIFC).
„This approval reinforces RLUSD’s position as a trusted, enterprise-grade stablecoin, built with regulatory compliance, utility, and transparency at its core. Alongside today’s approval under the DFSA’s crypto token regime, RLUSD is one of the few stablecoins globally to be issued under a New York Department of Financial Services (NYDFS) Trust Company Charter.” – according to the press release.
„With stringent safeguards including 1:1 USD backing by high-quality liquid assets, strict reserve management and asset segregation, third-party audits and clear redemption rights, RLUSD is designed to meet the highest expectations of both regulators and institutional users.” – the company explained.
“The DFSA’s approval of RLUSD is proof of our commitment to building a stablecoin that meets the highest standards of trust, transparency and utility,” said Jack McDonald, Senior Vice President of Stablecoins at Ripple. “With regulation-first design and enterprise-grade features, RLUSD is uniquely positioned to drive institutional use of blockchain technology across global markets, starting with cross-border payments.”
This recognition allows Ripple to integrate RLUSD into its DFSA-licensed flagship payments solution, combining the stability of a trusted digital dollar with a scalable, blockchain-based infrastructure and Ripple’s extensive global payout network. Unlike stablecoins geared primarily toward retail users, RLUSD has been purpose-built for global enterprise utility, particularly in improving the speed, cost and efficiency of cross-border payments.
The approval also enables other DFSA-licensed firms in the fast-growing DIFC to incorporate RLUSD into their virtual assets services. With almost 7,000 firms active at the end of 2024, this further supports the integration of high-quality stablecoins into Dubai’s burgeoning digital assets and fintech ecosystem.
Stablecoin adoption in the UAE is accelerating. According to market data, 2024 saw a 55% year-on-year increase in stablecoin transactions in the region, signalling strong demand for blockchain solutions that address the inefficiencies of traditional payment rails. With a $400BN+ market for international trade and one of the world’s most progressive regulatory frameworks for digital assets, the UAE is well-positioned to become a global hub for stablecoin innovation and utility.
“The UAE continues to set a global benchmark for forward-thinking digital asset regulation and innovation,” said Reece Merrick, Managing Director Middle East and Africa (MEA) at Ripple. “The DFSA’s approval of RLUSD is yet another step forward for Ripple’s operations in the region, and we’re seeing huge interest from businesses of all sizes for cross-border payments and digital asset custody solutions. The UAE’s digital economy is vibrant and incredibly dynamic, and we’re looking forward to working with our regional partners, customers and regulators to supercharge that growth.”
RLUSD’s recognition by the DFSA builds on Ripple’s continued momentum in the region. Alongside the recent announcement of Zand Bank and Mamo as the first customers to adopt its regulated blockchain-enabled payments offering in the UAE, Ripple is also partnering with Ctrl Alt to support the Dubai Land Department’s (DLD) pioneering Real Estate Tokenization Project, which will see real estate title deeds tokenized on the XRP Ledger.
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