Ripple’s RLUSD stablecoin has been officially approved by the Dubai Financial Services Authority (DFSA) for use within the Dubai International Financial Centre (DIFC). This approval allows DIFC companies to utilize RLUSD for a variety of virtual asset services, including payments and treasury management. Ripple's managing director for the Middle East, Reece Merrick, highlighted the growing interest among UAE businesses in cryptocurrency solutions, particularly for cross-border payments. The RLUSD stablecoin will also support a blockchain initiative led by the Dubai Land Department to tokenize real estate title deeds on the XRP Ledger. This project was previously announced, aiming to implement blockchain-based tokenization for property registration. Ripple's license approval from DFSA, which occurred on March 13, adds to the significance of the RLUSD stablecoin as it joins other approved tokens such as USDC. The DIFC serves as a crucial financial hub in the region, with nearly 7,000 registered businesses.

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