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Ripple recently obtained a milestone accomplishment in Abu Dhabi as its stablecoin, Ripple USD ($RLUSD), received recognition and endorsement from the Abu Dhabi Financial Services Regulatory Authority (FSRA). This milestone qualifies $RLUSD as an Accepted Fiat-Referenced Token and, as a result, the stablecoin can be utilized in the Abu Dhabi Global Market (ADGM), one of the major international financial hubs in the Middle East. Embedding $RLUSD in the Middle East's financial ecosystem illustrates the region's growing demand for institutional-grade stablecoins. This recognition reinforces Ripple's $RLUSD issuance for appropriate and trustworthy settlement for globally regulated entities.
Green Light for Institutional Functionality in ADGM
[embed]https://twitter.com/reece_merrick/status/1993908123413958946[/embed] The recognition, within Abu Dhabi's regulatory setting, showcases the adherence of $RLUSD towards standards expected of a viable cryptocurrency. Financial entities regulated by FSRA Ng, payment service providers, can now incorporate $RLUSD in an expanding range of regulated financial services. These services include, but are not limited to, providing $RLUSD to clients as collateral and lending, or using $RLUSD in Prime Broker services and other services within the ADGM. This integration allows the use of $RLUSD for purposes other than payment transactions. Ripple now unlimited the use of $RLUSD for other core institutional integrated payment activities.