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Ripple USD stablecoin RLUSD has received key regulatory approval in the UAE.
On November 27, according to CoinDesk, Ripple's USD-pegged stablecoin RLUSD has been approved for use within the Abu Dhabi Global Market (ADGM), thus establishing a compliance foothold in one of the world's most strictly regulated crypto assets centers. Ripple stated on Thursday that this 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 the ADGM.