Key takeawaysSan Francisco-based blockchain payment company Ripple plans to expand to the UAE, leveraging the regions friendly digital asset regulations.Ripple hinted at a potential launch of a Dirham-backed stablecoin.XRPs price remains stable amid rising speculation on the launch of Ripples USD-backed stablecoin RLUSD soon.Ripple Expands To UAE, Sparking The Potential Launch Of A Dirham-Backed StablecoinIn a recent blog post, blockchain payment firm Ripple revealed plans to expand to the United Arab Emirates (UAE). In the post, Ripple acknowledged that the UAE has set a favorable landscape for stablecoin growth.The company highlighted the UAEs progressive regulatory frameworks for digital assets as a fertile ground for blockchain innovation. It noted that the Central Bank of the UAE (CBUAE) has established regulatory standards that support stablecoins, including Dirham-backed ones.Further, Ripple noted that the CBUAEs regulatory approach introduces inclusivity, which spreads across non-dirham stablecoins. So, the bank allows the registration and use of non-AED stablecoins within some specified guidelines, especially for digital assets transactions.The post also indicated the UAEs commitment to establishing clarity in its regulatory structure. The country has repositioned itself as a prominent digital finance hub, with regulations ensuring that businesses and consumers can access secure and efficient digital asset payments using stablecoins.In addition, Ripple emphasized its commitment to facilitating the growth of digital finance in the UAE. The blockchain firm has recorded significant advantages through the regions favorable regulatory development.Notably, the National Bank of Abu Dhabi was the first to introduce Ripples payment solutions in its operations. Moreover, Ripple stands among the pioneering blockchain companies with huge influence in the Middle East.Ripples commitment to digital payments in the country reflects a potential dirham-backed stablecoin from the company. The blockchain firm recently bagged the approval of the Dubai Financial Services Authority (DFSA).This makes Ripple the first blockchain payment firm to receive the DFSAs license and reflects the companys commitment to innovation and compliance.The DFSA license enables Ripple to offer enterprise-grade virtual asset infrastructure in the country. Ripples expansion to the UAE further marks its strategic approach to deepening its cost-effective and faster cross-border payment services. Notably, the company boasts over 55 licenses worldwide.XRP Price Remains Stable Amid Speculations Of RLUSD Launch SoonCrypto investors eagerly await Ripples USD-backed stablecoin RLUSD launch, with growing speculations about its imminent debut. This anticipation grows as Donald Trump wins the US presidential race and the crypto market reflects a bullish trend.Ripple recently moved a total of 294,000 RLUSD coins via multiple transactions. The largest movement involved $78,500 RLUSD from Ripples Treasury to an unidentified address. The funds were later shuffled between unknown wallets.Similarly, other transfers include 68,500 and 58,500 RLUSD between different wallets.These stablecoin transactions come following the conclusion of the RLUSD minting process in October. Moreover, the transactions suggest the last preparatory stage that could lead to the launch of the stablecoin.Moreover, Ripple CEO has remained optimistic about the impact of Trumps administration on the XRPL ecosystem.Meanwhile, XRPs price has indicated stability amid the expectation of an imminent launch of RLUSD. Currently, it boasts a market cap of $31.39 billion, with a trade volume of $1.36 billion.Add Techreport to Your Google News Feed Get the latest updates, trends, and insights delivered straight to your fingertips. Subscribe now! Subscribe now Rida is a dedicated crypto journalist with a passion for the latest developments in the cryptocurrency world. With a keen eye for detail and a commitment to thorough research, she delivers timely and insightful news articles that keep her readers informed about the rapidly evolving digital economy. View all articles by Rida Fatima Our editorial processThe Tech Reporteditorial policyis centered on providing helpful, accurate content that offers real value to our readers. We only work with experienced writers who have specific knowledge in the topics they cover, including latest developments in technology, online privacy, cryptocurrencies, software, and more. Our editorial policy ensures that each topic is researched and curated by our in-house editors. We maintain rigorous journalistic standards, and every article is 100% written byreal authors.