Ripple Receives License in Dubai – Stablecoin RLUSD Still in Preparation

Ripple (XRP) has been approved by the financial regulator in Dubai and wants to expand its business in the United Arab Emirates. The planned Ripple stablecoin RLUSD is also moving towards a launch date.

Ripple is still worried about whether the US Securities and Exchange Commission (SEC) will challenge the court ruling on XRP. The deadline to file an appeal expires on October 7th. In the meantime, however, Ripple is already looking to the future. An important step has been taken in Dubai, as Ripple announced in a press release. Dubai’s financial regulator has given Ripple permission in principle to offer services such as cross-border payments in the United Arab Emirates.

Ripple already has an office in Dubai and explains that a good 20 percent of its global customer base is based in the United Arab Emirates

With the license behind it, the company will be able to expand its range of services and find new customers, according to a Ripple spokesperson. It remains to be seen to what extent XRP could play a prominent role in this. Ripple CEO Brad Garlinghouse praised the business climate and legal situation for the crypto industry in the Emirates – which can also be seen as a swipe at the USA and the SEC.

Ripple is spreading a spirit of optimism this year with its plan to launch its own stablecoin called RLUSD . Garlinghouse had announced an imminent launch at the beginning of September. A data service is currently recording the generation (“minting”) of large RLUSD packages on a daily basis. Ripple calls this a “private beta” phase on X and explicitly warns against scams.

Meanwhile, the crypto markets are also keeping a close eye on XRP. The data service Coinglass is currently counting annual record values ​​of over $1 billion betting on price developments in XRP futures.

Conclusion: October 7th day of truth for Ripple and XRP

Experts assume that Ripple will wait for the SEC’s appeal deadline of October 7th before the stablecoin RLUSD makes its debut. Lawyers are divided over the SEC’s strategy, and Ripple wants to forego an appeal.

A forced reopening of the court battle with the SEC could hinder the stablecoin plans, at least in the USA. XRP, Ripple’s flagship to date, is currently more stable than Bitcoin and many prominent altcoins, which are suffering losses, with prices around $0.60.

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