Ripple's USD stablecoin RLUSD has received key regulatory approval in the UAE

According to CoinDesk, Ripple's dollar-pegged stablecoin RLUSD has been approved for use within the Abu Dhabi Global Market (ADGM), thereby establishing a compliant foothold in one of the world's most tightly regulated cryptocurrency centers.

Ripple stated on Thursday that the recognition from the Abu Dhabi Financial Services Regulatory Authority (FSRA) means that companies licensed by the authority can now use RLUSD in regulated activities. This approval places RLUSD among the few tokens permitted to enter the closed financial system of ADGM.