Ripple just scored a major win! Its full-reserve stablecoin, RLUSD, has been approved by the Dubai Financial Services Authority (DFSA) to operate within the Dubai International Financial Centre (DIFC) — a leading fintech hub aiming to become a global financial powerhouse.
This follows closely after RLUSD received regulatory approval from the New York Department of Financial Services (NYDFS). The move signals Ripple’s intent to launch a fully compliant, institutional-grade stablecoin with global reach.
RLUSD will be issued by Ripple’s regulated trust company, pegged 1:1 to the U.S. dollar, and will operate on both Ethereum and the XRP Ledger (XRPL). The stablecoin is fully backed and fully transparent, built specifically for payment systems and cross-border finance.
Jack McDonald, Vice President of Stablecoins at Ripple, stated that RLUSD is "uniquely positioned to drive institutional adoption of blockchain tech" thanks to its enterprise-grade design and regulatory-first approach.
Ripple also holds a payment license in the DIFC, and with the UAE government considering stablecoins for public payments, RLUSD could soon play a key role in this rapidly evolving space.
Despite the dominance of Tether (USDT) and Circle’s USDC, Ripple is making a bold, long-term bet. Reports suggest Ripple even made a $4–5 billion offer to acquire Circle—clearly signaling its ambition to lead the stablecoin sector.
Could RLUSD be a serious threat to USDT and USDC? Time will tell.
