Ripple has received regulatory approval for its RLUSD stablecoin from the Dubai Financial Services Authority (DFSA), allowing its use within the Dubai International Financial Centre (DIFC). This makes RLUSD the third stablecoin to gain approval in the DIFC. Previously, Ripple obtained license approval to provide blockchain payment services there, positioning it well in the $40 billion UAE cross-border payments market. RLUSD has achieved a market cap of $333.6 million and recorded over $10 billion in trading volume since its launch in December. The approvals enable Ripple to integrate RLUSD into its payment services and allow other DFSA-certified firms to utilize the stablecoin. Ripple's MD for the Middle East, Reece Merrick, envisions expanding the use of stablecoins for real-time international payments, enhancing efficiency and reducing costs. RLUSD is also gaining traction outside Dubai, having received a limited purpose trust company charter in New York, further illustrating its global ambitions.

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