Ripple Secures Dubai Approval for RLUSD Stablecoin, Expands Middle East Reach

Ripple has secured regulatory approval for its RLUSD stablecoin in Dubai, marking a significant milestone for the company's expansion into the Middle East. The Dubai Financial Services Authority (DFSA) has given the green light for RLUSD to be used within the Dubai International Financial Centre (DIFC), making it the third stablecoin to gain such approval in the region. This development follows Ripple's own approval in March to offer blockchain payment services within the DIFC, positioning it as the first crypto-focused company to achieve this regulatory milestone.

With these approvals, Ripple can now integrate RLUSD into its global payment services offered in Dubai and the United Arab Emirates. Additionally, other DFSA-licensed firms in the area can incorporate the stablecoin into their solutions for clients. Reece Merrick, Ripple's Managing Director for the Middle East, highlighted the UAE's status as an international trading hub, predicting that stablecoins will increasingly be used to settle international payments in real time, thereby reducing friction and costs for local firms.

Merrick emphasized that the DIFC area's progressive financial regulations and year-on-year growth in output make it an ideal environment for stablecoin adoption. He noted that RLUSD has the potential to bring real value across payments, decentralized finance (DeFi), and real-world asset tokenization. Ripple's long-term plans for RLUSD include building global reach and availability, with the stablecoin already listed on dozens of top global exchanges and platforms, including Gemini, Kraken, Aave, and MoonPay. RLUSD is available on both the XRP Ledger and Ethereum blockchains, offering flexibility and scalability for various financial use cases.

RLUSD has also received regulatory approval in New York, where it has been issued a limited purpose trust company charter by the New York Department of Financial Services. This subjects the stablecoin to New York banking rules, one of the most rigorous regulatory frameworks in the world. Merrick expressed Ripple's commitment to working with regulators, partners, and customers to meet the strong demand for a differentiated stablecoin that brings legitimacy, trust, and genuine enterprise utility.

Launched in December, RLUSD has quickly become the 20th-biggest stablecoin in the market, with a market cap of $333.6 million. Merrick believes that RLUSD's status as an efficient and strongly regulated stablecoin positions it for future growth. He noted that the stablecoin market is over $250 billion and growing, with utility driving the next wave of adoption. Ripple's extensive experience and scale in the crypto industry, serving over 90 payout markets covering more than 90% of global FX, with over $70 billion processed to date, will catalyze RLUSD's expansion in the coming months and years.