Dubai Financial Services Approved Ripple’s RLUSD as a Recognised Crypto Token

Ripple’s USD-backed stablecoin, RLUSD, has been officially recognized as a crypto token by the Dubai Financial Services Authority (DFSA), enabling its use within the Dubai International Financial Centre (DIFC), a leading financial hub in the Middle East.

This landmark approval marks a significant step for Ripple in expanding its enterprise-grade blockchain solutions and reinforces Dubai’s position as a global leader in digital asset innovation.

https://x.com/Ripple/status/1929780706747572261

Launched in December 2024, RLUSD is designed for institutional use, backed 1:1 by U.S. dollars and supported by high-quality liquid assets, with regular third-party audits ensuring transparency and compliance.

The DFSA’s approval allows Ripple to integrate RLUSD into its DFSA-licensed payments platform, facilitating faster and cheaper cross-border transactions. Additionally, nearly 7,000 firms in the DIFC can now adopt RLUSD for virtual asset services, such as payments and treasury management, amplifying its potential impact.

Market Reaction and Competitive Positioning

The approval has already sparked significant market activity. Following the announcement on June 3, 2025, RLUSD’s daily trading volume has surged by 125.6%, reaching approximately $50 million, reflecting strong and sustained institutional interest. The stablecoin’s market capitalization has exceeded $330 million, positioning it as a growing competitor in the $250 billion global stablecoin market, alongside giants like Tether’s USDT and Circle’s USDC.

Dubai’s Emergence as a Web3 and Crypto Hub

Dubai’s approval of RLUSD underscores its strategic vision to become a global Web3 and crypto hub, rivaling cities like Singapore and Zurich. The UAE has seen a 55% year-on-year increase in stablecoin transactions in 2024, driven by its $400 billion international trade market and progressive regulatory framework.

A notable initiative is the Dubai Land Department’s pilot project to tokenize real estate title deeds on the XRP Ledger, in collaboration with Ripple and Ctrl Alt, which aims to digitize property ownership using blockchain technology.

Ripple’s Strategic Growth and Future Prospects

Ripple’s recent achievements extend beyond RLUSD’s approval. In March 2025, the company secured a DFSA license to offer crypto payment services in the DIFC, tapping into the UAE’s $40 billion cross-border payments market. Strategic partnerships with local entities like Zand Bank and Mamo, as well as global collaborations with Chainlink and Revolut, highlight Ripple’s expanding influence in blockchain-based finance.

With RLUSD’s growing adoption and Dubai’s supportive regulatory environment, Ripple is well-positioned to capitalize on the evolving landscape of digital assets and blockchain technology.