US EditionRipple News: RLUSD Stablecoin Gets Approval From Dubai Financial Services Authority
- Ripple announced that its US dollar-backed stablecoin RLUSD has received regulatory clearance from the Dubai Financial Services Authority to be utilized inside the Dubai International Financial Centre.
- This approval comes after RLUSD’s initial debut in December and its earlier authorization under the Trust Company Charter issued by the financial regulatory authority of New York State.
- The DFSA approval allows RLUSD to be incorporated within Ripple's authorized payments infrastructure and permits other DFSA-regulated companies operating in the DIFC—home to nearly 7,000 businesses—to potentially adopt the stablecoin.
- RLUSD is fully supported by U.S. Dollar reserves held as highly liquid assets, undergoes independent audits, and prioritizes trust, transparency, and compliance with regulatory standards, as emphasized by Jack McDonald, Ripple’s Senior Vice President of Stablecoins.
- This approval represents a crucial advancement for Ripple’s growth in the Middle East, aligning with the UAE’s rapidly expanding digital asset market and heightened activity in stablecoin transactions, which have surged substantially compared to the previous year.
47 Articles
47 Articles
Ripple News: RLUSD Stablecoin Gets Approval From Dubai Financial Services Authority
Ripple’s U.S dollar pegged RLUSD has received regulatory approval from Dubai’s financial watchdog, clearing the way for its use within the Dubai International Financial Centre (DIFC), the company said Tuesday.The Dubai Financial Services Authority’s decision means RLUSD can now be integrated into Ripple’s licensed payments platform and potentially leveraged by other DFSA-registered entities.That development could help expand Ripple’s footprint i…
Transamerica Life Bermuda gets DFSA license to set up in Dubai's DIFC.
The company announced the approval earlier today and said in a statement that it has appointed Adnan Ladki as head of Transamerica Life Bermuda DIFC The post Transamerica Life Bermuda gets DFSA license to set up in Dubai's DIFC. appeared first on Investment International.
Transamerica Life Bermuda receives approval to set up in DIFC
International high-net-worth (HNW) life insurer Transamerica Life Bermuda has been granted a license by the Dubai Financial Services Authority (DFSA) to establish a presence in Dubai International Financial Centre (DIFC). The company announced the approval earlier today and said in a statement that it has appointed Adnan Ladki as head of Transamerica Life Bermuda DIFC. He will work closely with the firm’s leadership team to drive its regional st…
Ripple’s RLUSD stablecoin approved by Dubai regulator for use in DIFC – #CryptoUpdatesGNIT
Update June 4, 9:42 am UTC: This article has been updated to add comments from a Ripple spokesperson. The Dubai Financial Services Authority (DFSA), the financial regulator in charge of the Dubai International Financial Centre (DIFC), has approved Ripple’s RLUSD stablecoin. Following the approval, DIFC companies can now use the RLUSD stablecoin for various virtual asset services. These may include payments, treasury management and services. The…
Ripple’s RLUSD stablecoin approved by Dubai regulator for use in DIFC - Invest In Crypto News
Update June 4, 9:42 am UTC: This article has been updated to add comments from a Ripple spokesperson. The Dubai Financial Services Authority (DFSA), the financial regulator in charge of the Dubai International Financial Centre (DIFC), has approved Ripple’s RLUSD stablecoin. Following the approval, DIFC companies can now use the RLUSD stablecoin for various virtual asset services. These may include payments, treasury management and services. The…
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