RLUSD Stablecoin Wins Abu Dhabi Approval for Institutional Trading

Ripple's dollar-pegged stablecoin, RLUSD, has gained approval for institutional trading in Abu Dhabi. The Financial Services Regulatory Authority granted recognition as an Accepted Fiat-Referenced Token, allowing licensed firms to deploy RLUSD for permitted activities.

Jack McDonald, senior vice president of stablecoins at Ripple, noted that the token has surpassed $1 billion in market capitalization and is growing in core financial applications, including collateral and payments.

The regulatory decision applies to companies operating within the Abu Dhabi Global Market, which must meet compliance requirements for fiat-referenced tokens. This includes reserve management and disclosure obligations.