With the DFSA approving RLUSD, Ripple will operate RLUS within the Dubai International Financial Centre (DIFC).
RLUSD will be able to be used in a variety of areas, including payments, asset management, and financial services, and companies registered with the DIFC will be able to use RLUSD in a variety of areas, including payments, asset management, and financial services.
DIFC is a free economic zone and financial centre that unites the Middle East, Africa and South Asia (MEASA) region, with around 7,000 companies registered as of the end of 2024.
Only DFSA-approved crypto assets can be used in the digital currency. In particular, RLUSD will be used for the Dubai Land Department’s (DLD) real estate registry tokenization project. Ripple is
The Dubai Land Department announced on March 19 that it will integrate RLUSD into the project and introduce a method of recording real estate registration rights on the XRP ledger.
Ripple Middle East and Africa Managing Director Reece Merrick said:
"The UAE is a country with a vibrant and dynamic digital economy, and is well positioned to facilitate cross-border payments and digital asset acceptance," said Merrick, CEO of the UAE-based digital asset exchange.
"We are seeing a surge in demand from businesses of all sizes for depository services," he said. The approval follows Ripple receiving a full operating license in the DIFC on March 13.
RLUSD is the rare global stablecoin approved by both the DFSA and the New York Department of Financial Services (NYDFS), which has approved it since 2020.
On December 10, 2013, the DFSA approved the issuance of RLUSD. In addition, the stable coins USDC and EURC issued by Circle are also available for use within the DIFC.
It is recognized as an authorization token.
2025/06/04 12:44 KST
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