Dubai regulator greenlights Ripple’s RLUSD stablecoin
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Ripple’s RLUSD stablecoin will support the Dubai Land Department’s blockchain initiative to tokenize real estate title deeds on the XRP Ledger.
The Dubai Financial Services Authority (DFSA), the financial regulator in charge of the Dubai International Financial Centre (DIFC), has officially approved Ripple’s RLUSD stablecoin as a recognized token under the regulator’s crypto regime.
Following the approval, DIFC companies can now use the RLUSD stablecoin for various virtual asset services. This may include payments, treasury management and services.
The DIFC is a free economic zone and financial district that serves companies throughout the Middle East, Africa and South Asia. The financial zone has nearly 7,000 registered businesses by the end of 2024.
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