Ripple’s dollar-backed Stablecoin Rlusd today acquired the status of “recognized crypto tokens” from the Dubai Financial Services Agency and cleared use within the Dubai International Financial Centre. The name was announced just six months after RLUSD’s release under the New York Department of Financial Services (NYDFS) Trust-Company Charter, announced that RLUSD has made RLUSD the first fully reserved U.S. dollar Stablecoin of the DFSA system and has expanded Ripple’s Ripple Footprint to the world’s fastest digital growth digital Asset-Asset-Asset-Asset Hubs.
RLUSD Approves Expansion in UAE
DFSA’s list of endorsements was proposed with Bitcoin, Ether and Litecoin in late 2022, and was expanded to include Toncoin and XRP two years ago. Now, RLUSD has joined the group, highlighting that only the policy of adding tokens in a strict and appropriate implementation process can examine reserve composition, governance and consumer protection measures.
RLUSD is issued by Ripple Markets NY-DFS LLC and is supported by short-term U.S. Treasury, cash and cash equivalents in separate accounts one-to-one, and provides monthly proof reports and the right to Fiat redemption on that day. These safeguards replicate the standards required by the New York Trust Charter system, which many compliance officials consider to be the most demanding official in the stable industry.
“DFSA’s approval of RLUSD demonstrates our commitment to building Stablecoin that meets the highest standards of trust, transparency and practicality,” said Jack McDonald, senior vice president of Ripple Stablecoins. He added that the token “starts with cross-border payments from the institutional use of blockchain technology in the global market.”
Identification allows Ripple to insert RLUSD directly into its DFSA licensed corrugated payment platform, giving banks and fintech the option of selling USD and linking with XRP. Two opening DIFC clients – Zand Bank, the UAE’s first all-digital bank, and fintech company Mamo, have already broadcast live on the service, which provides 24-hour settlements for more than 90 payment corridors.
Green Light also opened RLUSD to other DFSA-regulated virtual asset companies within the center’s 7,000-person financial ecosystem. Reece Merrick, managing director of Ripple Middle East and Africa, called the demand “huge” and required a chain of compliance, citing the company’s fiscal treasury, exchanges and custody providers. “The UAE’s digital economy is dynamic and incredibly dynamic and we look forward to working with our regional partners, customers and regulators to grow this growth,” he said.
The steady usage in Emirates has been rising dramatically. Chainalysis estimates that Dollar-Peggged tokens account for more than half of all cryptocurrencies inflows into UAE-based services in 2024, while Stablecoin Transactions’ value rose 55% year-on-year to about $9.8 billion. These figures both surpass Bitcoin and Ether, reflecting the country’s $400 billion trade footprint and its interest in a faster track of reconciliation.
By adding RLUSD to the recognized lineup, DFSA strengthens Dubai’s publicity as a jurisdiction where global trade operations can settle in tokenized dollars without regulatory ambiguity. The move also coincides with the emirates’ high-profile experiment on XRP Ledger: Last week, Dubai’s Ministry of Land and tokenization company CTRL ALT began a trial transfer of property ownership deeds on the network, part of a planned $16 billion property score.
At press time, XRP traded at $2.22.
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