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Ripple’s RLUSD stablecoin just got approved in Dubai. That’s big. Now, companies in the Dubai International Financial Centre (DIFC) can use it for things like payments and asset services.
The DIFC is no small player. It’s a free economic zone with nearly 7,000 companies spread across the Middle East, Africa, and South Asia. But here’s the catch: only digital tokens approved by Dubai’s financial regulator—the DFSA—can operate there.
Real Estate Gets Tokenized
One cool update: RLUSD will help tokenize property in Dubai. Tokenize? That just means turning real estate documents into secure blockchain entries.* The Dubai Land Department wants to move title deeds onto the XRP Ledger, making ownership faster and more secure.
UAE Businesses Are All In
Ripple’s Middle East and Africa head, Reece Merrick, says local businesses are super into crypto. They’re especially interested in cross-border payments and keeping digital assets safe.
Ripple is already working with Zand (a digital bank) and Mamo (a fintech app). Both are set to jump on RLUSD’s services fast.
Ripple’s Big Year
Ripple’s getting comfy in Dubai. Earlier this year, they got full licensing to run in the DIFC. RLUSD isn’t just any stablecoin—it’s one of the few approved by both the DFSA and New York’s top regulator.
Fun fact: Circle’s USDC and EURC stablecoins are also approved in DIFC.
*Blockchain: A secure, digital way of recording transactions—like a never-editable spreadsheet for assets.
*Tokenization: Converting real-world assets into digital units on the blockchain.
