Ripple Labs recently announced that its USD-pegged stablecoin, RLUSD, has been officially approved to operate in Abu Dhabi’s main financial market. This approval is an important step that strengthens Ripple’s global presence. It also shows the company’s focus on compliance and innovation in digital finance.
RLUSD Receives Regulatory Green Light from ADGM
The Financial Services Regulatory Authority (FSRA) in Abu Dhabi’s Global Market has officially recognized RLUSD as an approved fiat-backed token. This approval allows licensed institutions under the FSRA to use the stablecoin for approved financial activities, provided they meet the regulator’s conditions.
Ripple described the clearance as a testament to ADGM’s reputation as one of the most supportive regulators of digital assets worldwide. Jack McDonald, Ripple’s Senior Vice President for Stablecoins, said the approval shows the company focuses on compliance, reliability, and trust. He added that the new approval proves Ripple is committed to safe digital financial solutions. Additionally, FSRA officials stated that their goal is to support innovative firms operating within Abu Dhabi.
This move is expected to help RLUSD grow even more in global financial markets. The token, launched in December 2024, has already grown quickly and gained wide use in the industry.
In July, popular independent agency Bluechip ranked Ripple’s RLUSD as the most trusted stablecoin. This is due primarily to RLUSD having strong legal support and a growing user base. It also adheres to the strict rules that major banks and financial companies must comply with.
Ripple Secures Approval to Expand Operations Across UAE
The Abu Dhabi approval comes after a period of significant progress for Ripple in the Middle East. In March, the U.S.-based firm secured a DFSA license. This license enabled the company to offer regulated digital-asset services across the UAE.
More recently, Ripple partnered with Bahrain’s Fintech Bay to promote blockchain technology in the Gulf region. The company also plans to test payment solutions using RLUSD.
Ripple has also been involved in the wider UAE financial sector. Its partnership with Ctrl Alt helps tokenize real estate title deeds on the XRP Ledger (XPPL). This shows Ripple’s plan to use blockchain for real, everyday uses.
Ripple Plans RLUSD Expansion Into Africa and Europe
Ripple’s RLUSD expansion is not limited to the Gulf. The firm plans to introduce RLUSD to African markets through partnerships with major fintech companies. These partners include Chipper Cash, VALR, and Yellow Card. These collaborations aim to increase access to stablecoin-based financial solutions across the continent.
At the same time, Ripple Labs is making bold moves to bring its RLUSD into Europe. Months ago, the blockchain company confirmed that Luxembourg is the first stop in its strategy to expand across the European Economic Area (EEA). This move is part of a broader plan to expand Ripple’s presence across Europe and bring easy crypto trading into the mainstream financial system.