The Dubai Financial Services Authority (DFSA), which regulates the Dubai International Financial Centre (DIFC), has granted approval for Ripple’s RLUSD stablecoin.
With this approval, companies in the DIFC can now utilize the RLUSD stablecoin for a range of virtual asset services, including payments and treasury management.
The DIFC is a financial district and free economic zone that caters to businesses in the Middle East, Africa, and South Asia. By the close of 2024, the financial zone had nearly 7,000 registered companies.
According to the DIFC’s cryptocurrency regulations, only tokens that are authorized by the DFSA are permitted within the regulated ecosystem of the district.