Ripple’s RLUSD stablecoin has gained regulatory clearance in the UAE while its circulating supply has reached new levels. Abu Dhabi’s Financial Services Regulatory Authority has added the asset to its green list, enabling supervised deployment within the Abu Dhabi Global Market. RLUSD’s market value passed USD 1.26 billion in November, driven largely by activity on Ethereum.
According to the announcement, the FSRA has classified RLUSD as an Accepted Fiat-Referenced Token. This designation permits FSRA-licenced companies to employ the stablecoin for functions such as collateralisation, lending operations and prime brokerage activity conducted under ADGM oversight. Representatives from Ripple said the regulator’s decision highlighted the importance of maintaining compliance standards within institutional finance, noting that the firm views adherence to established rules as a core requirement rather than an optional practice.
The decision follows recent amendments to the FSRA’s Digital Asset Regulatory Framework, which aims to expand institutional participation while enforcing stringent controls. Under the new status, RLUSD becomes eligible for use in regulated settlement channels and other institutional workflows, provided participating firms meet their own supervisory obligations.
Market growth and chain distribution
Despite Ripple’s positioning of the XRPL as central to its infrastructure, recent issuance has tilted heavily towards Ethereum. Observers have noted that this trend raises questions about the XRPL’s relative role, though analysts pointed out that more than 100 million RLUSD was minted on the XRPL during November, signalling continuing institutional activity on both networks.
RLUSD is issued through an entity operating under a New York Department of Financial Services Limited Purpose Trust Charter, with reserves reportedly held in high-quality liquid assets and subject to external attestations, segregation requirements and redemption obligations, features necessary for approvals in markets with strict regulatory standards, including the UAE.
Analysts monitoring the sector argue that RLUSD could move into the upper tier of global stablecoins if current momentum persists. The token currently stands outside the top ten by market capitalisation and would need to exceed the size of MakerDAO’s DAI (about USD 4.4 billion) to enter the top five.
