Ripple’s RLUSD Makes Waves: Here’s What You Need to Know

Ripple just dropped a bombshell—and the crypto world is scrambling to adjust. Their RLUSD stablecoin play could reshape cross-border payments... or become another footnote in the ’stablecoins that tried to dethrone Tether’ graveyard.

Why this matters: Ripple’s targeting the $300B+ daily FX market with a regulated alternative. Cue the usual promises of ’faster, cheaper’ transactions—because apparently banks still move money like it’s 1999.

The twist? RLUSD launches with three major exchange partners already onboard. No vague ’partnerships coming soon’ here—a rare moment of transparency in an industry that usually runs on hype.

Watch the XRP army lose their minds either way. This either moonshots the token or gives them fresh conspiracy fodder when Ripple inevitably pivots again.

Dubai Says ‘Yes’

Ripple’s stablecoin, dubbed RLUSD, was recognized by the Dubai Financial Services Authority (DFSA) as a crypto token within the Dubai International Financial Center (DIFC). 

“This approval reinforces RLUSD’s position as a trusted, enterprise-grade stablecoin, built with regulatory compliance, utility, and transparency at its core,” Ripple emphasized in its official announcement. 

Jack McDonald, Senior Vice President of Stablecoins at the company, described the approval as proof of the firm’s commitment “to building a stablecoin that meets the highest standards of trust, transparency, and utility.” 

“With regulation-first design and enterprise-grade features, RLUSD is uniquely positioned to drive institutional use of blockchain technology across global markets, starting with cross-border payments,” he added.

The green light from Dubai allows other DFSA-licensed entities within the DIFC area to incorporate the product into their operations.

The Dubai International Financial Centre (DIFC) is a special economic zone that serves as a financial hub for the Middle East, Africa, and South Asia (MEASA) region. It operates under its own legal system and courts, while businesses within the area benefit from a 0% corporate tax rate on qualifying income and no restrictions on capital repatriation.

In August last year, Ripple strengthened its global presence by partnering with the DIFC. A few months later, it received in-principle approval from the Dubai regulator to expand its services within the special economic area.

RLUSD’s Previous Achievements

The stablecoin pegged 1:1 to the US dollar officially saw the light of day in December of last year. Initially, the exchanges that allowed trading services with it included Uphold, Bitso, Moonpay, Bitstamp, and others.

Later on, well-known names such as Gemini and Kraken also followed suit. As CryptoPotato reported last week, the latest to hop on the bandwagon was Bitget, which listed the RLUSD/USDT and RLUSD/USDC pairs. 

Despite that, Ripple’s financial product remains an insignificant player in the stablecoin niche, with a market cap of around $310 million. This represents a mere 0.12% of the industry’s $250 billion capitalization.

It is important to note that Ripple supposedly tried to increase its presence in the stablecoin sector by acquiring Circle (the company behind USDC). Several reports indicated that the company is ready to pay over $10 billion to close the deal.

However, Circle rejected the speculation, saying that it was not for sale. It also plans to go public through an IPO in the United States.