Ripple USD (RLUSD), the stablecoin issued by the Ripple Labs company, marked a historical (ATH) market capitalization after exceeding the barrier of 369 million dollars.
Among the novelties that boost that growth, it is noted that, on June 2, Rlusd was approved by the Dubai Financial Services Authority (DFSA) for use in the International Financial Center of Dubai (DIFC).
From now on, DIFC companies can use the Stablecoin for payments, treasury management and financial services.
In this regard, Reece Merrick, general director of Ripple for the Middle East and Africa, said: “The approval of RLUSD by the DFSA is one more step for Ripple operations in the region, and we are observing a great interest on the part of companies of all sizes in cross -border payments and digital asset custody solutions.”
This type of alliances has impacted RLUSD market capitalizationwhich continues to grow slowly but firm, as seen in the following graph:
As cryptootics reported, RLUSD is backed by deposits, short -term treasure bonds and other liquid instruments and has received the approval of the New York Financial Services Department (NYDFS).
In addition, it operates in the Ethereum and XRP Ledger networks, whose native currency is XRP. In other words, if it achieves the expected adoption, it can be beneficial for the price of the fourth most valuable cryptocurrency in the market.
