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Abu Dhabi Accepts Ripple's RLUSD Stablecoin
Abu Dhabi Accepts Ripple's RLUSD Stablecoin. Photo By Imtiyaz Ali On Unsplash.
Ripple's RLUSD stablecoin has been accepted by the FRSA in Abu Dhabi.
The U.S. based stablecoin issuer has announced that it has successfully passed the criteria set forth by the FRSA (Financial Services Regulatory Authority) within the ADGM financial district of the UAE, meaning that authorised and licensed enterprises will be able to utilise the stablecoin for regulated activities. This follows this summer's regulatory approval from a nearby regulatory regime - DFSA (Dubai Financial Services Authority) specifically for Dubai in the DIFC region.
Managing Director for Middle East and Africa at Ripple Reece Merrick has expressed:
“The UAE continues to set a global benchmark for digital asset regulation and innovation. ADGM is recognized globally for its robust and forward-thinking regulatory leadership, so this approval reinforces RLUSD as a compliant stablecoin that meets the highest standards of trust, transparency, and utility.
Ripple is one of the latter entrants into the stablecoin space after companies such as Circle and Tether, having officially launched RLUSD back in November of 2024, so their ongoing licenses and overall onchain adoption is steadily progressing globally. This regulatory approval comes at a good time as RLUSD sits at $1.26B in volume a year later.
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