Ripple in Dubai. Rusd from Ripple finds its place in the international digital financial landscape and in February, It is in South Korea that a partnership was signed by Brad Garlinghouse teams. Today is the turn of the Dubai Financial Services Authority (DFSA) to give the green light for the use of the RUSD within the Dubai International Financial Center (DIFC) and more broadly throughout the territory of the United Arab Emirates. This new step in the development of Ripple’s stablecoin confirms the growing interest of local businesses for digital solutions and in particular for cryptocurrencies. Direction Dubai to take stock of this information.
- Ripple received approval from the Dubai Financial Services Authority for the use of its stablecoin Rlusd in the Dubai International Financial Center.
- This decision marks a significant step in the expansion of Ripple to the United Arab Emirates, with an increasing interest of local businesses for digital solutions.
Dubai’s financial regulator authorizes the use of the RUSD
THE Dubai International Financial Center is a free economic zone which serves as a financial center for companies in the Middle East, Africa and South Asia and which had nearly 7,000 recorded companies in 2024. Under the jurisdiction of Dubai Financial Services Authoritythe DIFC therefore has approved the use of Rlusd Ripple for companies wishing to use digital assets in their activities.
Whether for cross -border paymentsfor cash management or for Various financial servicescompanies will therefore be able to use the stablecoin of Ripple, but also the USDC and the EURC de Circle which have also been approved by the local regulator.
Ripple continues its international expansion and seduces local businesses
According to declarations of Reece Merrickthe director general of Ripple For the Middle East and Africa, local businesses are increasingly interested in digital solutions:
“The digital economy of the United Arab Emirates is very lively and incredibly dynamic. We also note a huge interest on the part of companies of all sizes for cross -border payments and the conservation solutions of digital assets. »»
Reece Merrick, CEO of Ripple for the Middle East and Africa-Source: Cointelegraph
Ripple has also announced working with several local partners such as digital bank Zand and the Fintech platform Mamo which should be the first users of payment services of the company. Finally, we learned that the Rlusd will be used as part of the real estate tokenization initiative of Dubai Land Department which aims to record property titles on the blockchain XRP Ledger.
With this new approval, Ripple continues its international expansion and stands out as a key player in the international crypto ecosystem. We even believed for a moment that society would do The best blow of the year by buying Circlebut ultimately, all of this was just a rumor.