Ripple stablecoin approved by Dubai DIFC regulator

Ripple stablecoin approved by Dubai DIFC regulator

Ripple, an enterprise blockchain and crypto solutions, RLUSD stablecoin has been approved as a recognized crypto token by the Dubai Financial Services Authority (DFSA) for use within the Dubai International Financial Centre (DIFC).


As per the press release, this approval reinforces RLUSD’s position as a trusted, enterprise-grade stablecoin, built with regulatory compliance, utility, and transparency at its core. Alongside today’s approval under the DFSA’s crypto token regime, RLUSD is one of the few stablecoins globally to be issued under a New York Department of Financial Services (NYDFS) Trust Company Charter.

“The DFSA’s approval of RLUSD is proof of our commitment to building a stablecoin that meets the highest standards of trust, transparency and utility,” said Jack McDonald, Senior Vice President of Stablecoins at Ripple. “With regulation-first design and enterprise-grade features, RLUSD is uniquely positioned to drive enterprise utility of blockchain technology across global markets, starting with cross-border payments.”

RLUSD has been purpose-built for global enterprise utility, particularly in improving the speed, cost and efficiency of cross-border payments. This recognition allows Ripple to integrate RLUSD into its DFSA-licensed flagship payments solution, combining the stability of a trusted digital dollar with a scalable, blockchain-based infrastructure and Ripple’s extensive global payout network.

This approval also enables other DFSA-licensed firms in the fast-growing DIFC to incorporate RLUSD into their virtual assets services. With almost 7,000 firms active at the end of 2024, this further supports the integration of high-quality stablecoins into Dubai’s burgeoning digital assets and fintech ecosystem.

Stablecoin adoption in the UAE is accelerating. According to market data, 2024 saw a 55% year-on-year increase in stablecoin transactions in the region, signalling strong demand for blockchain solutions that address the inefficiencies of traditional payment rails. With a $400BN+ market for international trade and one of the world’s most progressive regulatory frameworks for digital assets, the UAE is well-positioned to become a global hub for stablecoin innovation and utility.

“The UAE continues to set a global benchmark for forward-thinking digital asset regulation and innovation,” said Reece Merrick, Managing Director Middle East and Africa (MEA) at Ripple. “The DFSA’s approval of RLUSD is yet another step forward for Ripple’s operations in the region, and we’re seeing huge interest from businesses of all sizes for cross-border payments and digital asset custody solutions. The UAE’s digital economy is vibrant and incredibly dynamic, and we’re looking forward to working with our regional partners, customers and regulators to supercharge that growth.”

Earlier this month Ripple onboarded UAE Zand Digital bank and Mamo, while it also was used in Dubai Land Department tokenization of property platform.

CoinMENA the first and only Crypto exchange in MENA to list Ripple stablecoin

CoinMENA the first and only Crypto exchange in MENA to list Ripple stablecoin

CoinMENA, a regulated crypto broker with licenses in the UAE and Bahrain, is one of the selected crypto exchanges globally to be listing Ripple’s new RLUSD stablecoin on its platform. CoinMENA is the only crypto broker to be chosen by Ripple to list its stablecoin in the MENA region.

Ripple which today launches its Ripple USD (RLUSD) on global exchanges has chosen CoinMENA, Uphold, MoonPay, Archax, Bitso, Bullish, Bitstamp, with Mercado Bitcoin, Reserve, Zero Hash and others expected in the coming weeks.

CoinMENA Founders, Dina Sam’an and Talal Tabbaa commented, “We are proud to be the first and only platform in MENA to list RLUSD, the latest stablecoin in the market. Demand for stablecoins is exploding in the region, driven by diverse and growing use cases, we are seeing from our user base. Stablecoins are by far the most popular use case in the crypto today, and this listing reflects our commitment to providing the latest crypto financial solutions that meet the evolving needs of our users.”

Each RLUSD token is fully backed by U.S. dollar deposits, U.S. government bonds, and cash equivalents—designed to ensure its stability, reliability, and liquidity. To maintain the highest standards of transparency, Ripple will publish monthly, third-party attestations of RLUSD’s reserve assets, conducted by an independent auditing firm.

“Early on, Ripple made a deliberate choice to launch our stablecoin under the NYDFS limited purpose trust company charter, widely regarded as the premier regulatory standard worldwide,” said Brad Garlinghouse, Ripple’s CEO. “As the U.S. moves toward clearer regulations, we expect to see greater adoption of stablecoins like RLUSD, which offer real utility and are backed by years of trust and expertise in the industry.”

Key RLUSD partners include leading global exchanges, market makers, and payment providers, which will drive adoption and usage across the Americas, Asia-Pacific, UK, and Middle East regions.

RLUSD will be utilized for financial use cases and allows institutions to, facilitate instant settlement of cross-border payments, access liquidity for remittance and treasury operations, seamlessly integrate with decentralized finance (DeFi) protocols, and a reliably bridge between traditional fiat currencies and the crypto ecosystem, ensuring a seamless and efficient transition when entering (on-ramping) or exiting (off-ramping) the crypto space.

It will also be used to provide collateralization for trading tokenized real-world assets such as commodities, securities, and treasuries onchain.

Early next year, Ripple Payments will use RLUSD to facilitate global payments on behalf of its enterprise customers. Ripple Payments has served $70 billion in payments volume and counting, and has near-global coverage with 90+ payout markets, which represent more than 90% coverage of the daily FX market.

 RLUSD is available on both the XRP Ledger and Ethereum blockchains, offering flexibility and scalability for a broad range of financial use cases.

“Stablecoins could become the backbone of private payments by offering a secure, scalable, and efficient alternative to traditional systems. With its focus on compliance and reliability, RLUSD aims to establish new standards for trust and to play a pivotal role in shaping the future of payments. Joining the Advisory Board provides me an opportunity to counsel RLUSD as it embarks on its journey in the rapidly evolving financial landscape,” said Raghuram Rajan, former Governor of the Reserve Bank of India.

“I am excited to join Ripple’s advisory board at such a pivotal moment for digital finance,” said Kenneth Montgomery, former First Vice President and Chief Operating Officer at the Federal Reserve Bank of Boston. “Stablecoins are rapidly emerging as a cornerstone of the payments landscape, delivering the speed, efficiency, and cost-effectiveness that traditional systems often struggle to achieve. I look forward to collaborating with the Ripple team to support the global growth and adoption of RLUSD, unlocking new opportunities for financial inclusion and modernizing the future of payments.”