by Jake ClaverRipple, DFSA, and UAE regulated crypto payments: stablecoins doing real settlement work
Ripple, DFSA, and UAE regulated crypto payments put stablecoins to work as settlement money. Every part of it traces back to a named, primary source.
The Settlement Layer
This material is about fiat-denominated value moving through the ecosystem, usually via issuance or settlement. Supporting material comes from the DFSA crypto-token framework page and the DFSA RLUSD recognition notice. Ripple DFSA payments license announcement states it directly:
> The reserve assets must be of high quality and high liquidity with minimal investment risks. 3.4.4. The applicant must ensure that the reserve assets of each type of specified stablecoins that the applicant plans to issue are (i) segregated from any other pools of reserve assets it maintains, (ii) adequately protected against claims by its other creditors in all circumstances, and (iii) kept separate from any other assets of the applicant, including any other funds paid to, maintained or received by the applicant.
What This Means For XRPL
What it changes for the Ripple and XRP Ledger ecosystem: stablecoin activity can improve how useful a network is for payments and treasury operations. The broader research trail also includes the DIFC XRP virtual-assets recognition release, the HKMA regulatory regime for stablecoin issuers page, and the HKMA explanatory note on licensing of stablecoin issuers PDF.
One caveat for honest use: Do not infer UAE partnerships with Stellar or broad UAE-wide approval.
From The Source
