RLUSD Expands Beyond Payments to Drive Sovereign Infrastructure
The post RLUSD Expands Beyond Payments to Drive Sovereign Infrastructure appeared on BitcoinEthereumNews.com.
RLUSD is approved by the DFSA for use in Dubai’s DIFC. Integrates into Ripple Payments for efficient cross-border transactions. Partners with Dubai Land Department to tokenize real estate deeds. One of Ripple’s products, the USD-backed RLUSD coin, is making the jump from payment systems to infrastructure fit for a sovereign nation. RLUSD has made history by becoming one of the first cryptocurrency tokens to be allowed for use by institutions and governments; it is currently regulated and approved by the Dubai Financial Services Authority (DFSA) for usage in the Dubai International Financial Centre (DIFC). RLUSD Integrates into Dubai’s Financial Ecosystem DFSA approved the operation of RLUSD based on DIFC, a major financial hub of the UAE. It allows stablecoin to become part of Ripple Payment systems for far cheaper cross-border transactions, which are happening at a much faster rate than before. And while RLUSD is in a very early stage of its life, early RLUSD adopters are local entities like fintech platform Mamo and digital bank Zand that are using RLUSD. RLUSD has great potential to grow within the UAE’s $40 billion international payment market. In December 2024, it also launched a stablecoin that is backed by equal amounts of U.S. dollar deposits, government bonds, and cash equivalents to bring transparency and reliability. The monthly third-party audits further support institutional use. “This approval makes Dubai a strong leader in digital finance and reiterates its status as a global frontrunner in digital finance,” Jack McDonald, Ripple’s Senior Vice President of Stablecoins, said about the milestone: “RLUSD being a first step of a series of values to come that will contribute to making blockchain reliable solutions.” According to data, last year transactions in stablecoins in the region surged up by 55 percent, as the demand for efficient payment systems also grew. RLUSD…
Filed under: News - @ June 10, 2025 12:27 am