Ripple’s RLUSD Gains DFSA Approval as Recognised Crypto Token

Ripple’s stablecoin, RLUSD, has received official recognition as a crypto token from the Dubai Financial Services Authority (DFSA). The approval allows RLUSD to operate within the Dubai International Financial Centre (DIFC). This move strengthens RLUSD’s credibility as a secure, enterprise-grade stablecoin. Ripple designed RLUSD to prioritize regulatory compliance, transparency, and practical utility for institutions.

Alongside the DFSA approval, RLUSD also holds recognition under the New York Department of Financial Services (NYDFS) Trust Company Charter. Few stablecoins globally share this level of regulatory endorsement. RLUSD maintains 1:1 backing with high-quality liquid USD assets. It also implements strict reserve controls, asset segregation, third-party audits, and clear redemption terms to enhance trust and stability.

Ripple Targets Institutional Blockchain Use

Ripple’s Senior Vice President of Stablecoins, Jack McDonald, emphasized the company’s regulatory-first approach. “The DFSA’s approval proves our focus on building a stablecoin that meets top standards in trust and utility,” he said. He added that RLUSD’s enterprise-grade features position it to support institutional blockchain adoption, starting with cross-border payments.

With this recognition, Ripple can now integrate RLUSD into its DFSA-licensed payments platform. This solution blends a regulated digital dollar with Ripple’s scalable blockchain infrastructure and global payout reach. Unlike most retail-focused stablecoins, RLUSD is built to serve enterprise needs specifically to improve cross-border payment speed, cost, and efficiency.

DFSA-Licensed Firms Can Adopt RLUSD

DFSA’s approval enables nearly 7,000 firms operating within the DIFC to adopt RLUSD for virtual asset services. This supports the growing role of stablecoins in Dubai’s expanding fintech and digital asset ecosystem.

Stablecoin use in the UAE is surging. In 2024, stablecoin transactions in the region rose 55% year-on-year. The UAE’s $400 billion+ trade market and clear digital asset regulations make it a prime location for stablecoin innovation.

Ripple Expands Regional Presence

Reece Merrick, Ripple’s Managing Director for the Middle East and Africa, praised the UAE’s progressive approach. “The UAE continues to lead in digital asset regulation. DFSA’s approval marks another milestone in Ripple’s regional growth,” he said. Merrick also noted increasing interest from businesses in digital asset custody and payment solutions.

We are on twitter, follow us to connect with us :- @FXCryptoNews
— FXCryptoNews (@FXCryptoNews) December 14, 2023

The DFSA’s approval of RLUSD confirms Ripple’s role in advancing regulated, enterprise-ready stablecoin solutions. With strong institutional backing and growing partnerships across the UAE, Ripple is positioning RLUSD at the center of the region’s digital payment transformation.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.