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Diya Poddar

Ripple's RLUSD Stablecoin Gains Regulatory Approval in Abu Dhabi

Ripple's dollar-backed stablecoin RLUSD has been designated as an Accepted Fiat-Referenced Token by Abu Dhabi Global Market's Financial Services Regulatory Authority. The approval enables licensed institutions within the financial free zone to incorporate RLUSD into regulated operations. RLUSD currently maintains a market capitalisation exceeding $1 billion and is backed 1:1 by US dollar reserves.