The Dubai Financial Services Authority (DFSA) has granted regulatory approval for Ripple's RLUSD stablecoin within the Dubai International Financial Center (DIFC), according to the press release published on 3 June.
This authorization allows nearly 7,000 companies registered in the DIFC free zone to integrate RLUSD into their financial operations, including cross-border payments and treasury management solutions.
The DIFC maintains strict regulations on cryptocurrencies, allowing only DFSA-approved digital assets in its ecosystem.
Jack McDonald, Senior Vice President of Stablecoins at Ripple, said:
"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."