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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.