CMC News

$RLUSD #Stablecoin Approved for #Dubai Financial District Operations

#Ripple's $RLUSD stablecoin has received approval from Dubai Financial Services Authority for use in DIFC.

The approval allows DIFC companies to utilize $RLUSD for payments, treasury management, and virtual asset services.

Dubai Land Department will use $RLUSD to support real estate tokenization initiatives on the #XRPLedger.

The project aims to record property title deeds on blockchain infrastructure through a pilot program launched in March.

Ripple reports "huge interest" from UAE businesses seeking cross-border payment solutions and digital asset custody.

Local partners including digital bank Zand and fintech platform Mamo are expected to be early adopters.

$RLUSD joins Circle's $USDC and EURC as the few stablecoins approved under DFSA's crypto token regime.

The stablecoin also holds approval from New York Department of Financial Services, expanding its global #regulatory reach.