Based on Criptonoticias, Ripple's stablecoin RLUSD has been authorized for use in the Abu Dhabi Global Market (ADGM) under the supervision of the Financial Services Regulatory Authority (FSRA). The approval allows licensed entities in the ADGM to use RLUSD for regulated activities, provided they comply with applicable regulatory obligations for fiat-backed digital assets. Jack McDonald, senior vice president of stablecoins at Ripple, stated that the recognition reinforces Ripple's commitment to regulatory compliance and trust. RLUSD, launched in December 2024, operates on the Ethereum and XRP Ledger blockchains and has a market capitalization of $1 billion, ranking fifth among the largest stablecoins, though significantly behind leaders like Tether (USDT) and USD Coin (USDC).
Ripple's Stablecoin RLUSD Legalized in UAE's Abu Dhabi Financial Center
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