"Ripple stablecoin RLUSD recognized as an official payment asset in Abu Dhabi…Middle East push accelerates"

Ripple's dollar-denominated stablecoin RLUSD has been approved by the Abu Dhabi Global Market (ADGM) as an official 'Fiat-Referenced Token (Fiat-Referenced Token),' accelerating its expansion in the Middle East region.

According to Ripple's official announcement on the 29th (local time), the Abu Dhabi Financial Services Regulatory Authority (FSRA) approved RLUSD, allowing authorized entities within ADGM to use RLUSD for payment, collateral, and settlement purposes if they meet regulatory requirements. RLUSD has already expanded its use by receiving separate approvals from some regional regulators.

Jack McDonald, head of Ripple stablecoins (Senior Vice President), said, "FSRA's recognition means RLUSD is an asset with regulatory credibility and institutional-grade transparency," and added, "the current market capitalization is more than $1.2 billion, and institution-led demand for collateral and payments is rapidly increasing." He also emphasized that RLUSD could drive the next phase of global digital asset adoption.

RLUSD has been operating since its launch at the end of 2024 based on a limited-purpose trust company license from the New York Department of Financial Services (NYDFS). Ripple has positioned it as a regulation-friendly stablecoin by applying institutional standards such as 1:1 dollar deposits, reserve composition focused on high-liquidity assets, third-party accounting verification, segregated custody of assets, and clear redemption rights.

Rees Merrick, Ripple Head of Middle East & Africa, said, "The UAE is a country that sets global standards in digital asset regulation," adding, "this approval proves that RLUSD meets the highest standards in transparency, trustworthiness, and compliance." He also noted that demand for RLUSD-based products and Ripple solutions has "surged" recently in the Middle East region.

ADGM also welcomed Ripple's approval and said it expects RLUSD to grow within ADGM's regulatory framework. Arvind Ramamurthy, ADGM Head of Market Development, said, "The UAE prioritizes transparency and innovation to build next-generation financial infrastructure."

Based on this approval, RLUSD is expected to see expanded enterprise use through integration into Ripple's cross-border payment solutions, strengthened crypto on- and off-ramps, and support for capital markets products. Partnerships in the Middle East and Africa are also rapidly increasing, and cooperation with financial institutions in Bahrain, the UAE, and Africa is expanding.