Approval has been granted for Ripple’s dollar-backed stablecoin, RLUSD, which permits licensed companies in Abu Dhabi’s worldwide monetary zone to make use of it.
The approval got here from the Monetary Providers Regulatory Authority overseeing the Abu Dhabi World Market (ADGM), a free zone on Al Maryah and Al Reem Islands.
Licensed entities might make use of RLUSD for permitted operations, offered they adjust to the principles on reserve management and required disclosures.
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RLUSD started in October 2024 underneath a limited-purpose belief constitution granted by the New York Division of Monetary Providers.
By March, full regulatory approval arrived, which enabled crypto-based cross-border cost companies within the Dubai Worldwide Monetary Centre. In June, that very same regulator additionally permitted RLUSD for regulated actions reminiscent of treasury administration and funds inside the DIFC.
A sweeping federal decree, Federal Decree Regulation No. 6 of 2025, got here into drive as of September. It requires that protocols, platforms, infrastructure suppliers, and companies concerned in funds, lending, custody, exchanges, or investing get hold of a license from the Central Financial institution of the UAE by September 2026.
Jack McDonald, Ripple’s senior vp of stablecoins, famous that, with a market cap exceeding $1 billion and rising adoption throughout use instances reminiscent of collateral and funds, RLUSD is changing into a number one USD stablecoin for main establishments.
Not too long ago, Ripple has confirmed it’s not planning to go public, even after resolving a protracted authorized dispute with the US Securities and Change Fee (SEC). What did Monica Lengthy, the president of Ripple, say? Learn the complete story.
