Ripple-Dollar Stablecoin RLUSD Receives Key Regulatory Approval in the UAE

BlockBeats News, November 27th, according to CoinDesk, Ripple's US dollar-pegged stablecoin RLUSD has been approved for for use within the Abu Dhabi Global Market (ADGM), solidifying its compliance stance in one of the world's most rigorously regulated cryptocurrency hubs.

Ripple said on Thursday that this recognition by the Abu Dhabi Financial Services Regulatory Authority (FSRA) means that companies licensed by the authority can now use RLUSD in regulated activities. This approval places RLUSD among the few tokens permitted to access the ADGM's closed financial ecosystem.