Breaking: RLUSD is now easily accessible on Abu Dhabi’s prime brokerage platforms for collateral, lending & more.
Ripple’s RLUSD stablecoin has just settled in the International Financial Centre of Abu Dhabi. According to the latest legal records, Abu Dhabi’s Financial Services Regulatory Authority (FSRA) added Ripple’s RLUSD stablecoin to the Accepted Fiat-Referenced Token list, paving the way for unprecedented federal-grade adoption.
Differently from other popular counterparts like Circle USD (USDC) or Tether USD (USDT), Ripple’s RLUSD stablecoin is geared towards institutions. A compliance-first approach has brought the San Francisco-based tech giant’s stablecoin to a $1.2 billion market cap just two months since inception.
Ripple’s Stablecoin Covers All Bases In UAE
“The UAE continues to set a global benchmark for digital asset regulation and innovation,” – mentioned Reece Merrick, the Managing Director, Middle East and Africa at Ripple. RLUSD’s stringent safeguards are powered by 1:1 backing and extensive on-demand liquidity, making sure the upcoming RLUSD stablecoin stays dynamic & ahead of the curve.
The United Arab Emirates (UAE) is most definitely among the quickest-growing adopters of licensed stablecoins. Just last year, the stablecoin usage around the area soared by 55%. Last Summer, Ripple gained the first RLUSD license in UAE from the Dubai Financial Services Authority, making RLUSD available in both Dubai & Abu Dhabi’s Global Financial Centres.
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