Ripple’s RLUSD Gains Ground in Abu Dhabi Amidst $37 Million Upbit Security Incident

Ripple’s stablecoin, RLUSD, has received formal approval from the Financial Services Regulatory Authority (ADGM) as a fiat-referenced token, expanding access to its benefits across the Middle East. This development comes after a significant security breach on Upbit, a South Korean cryptocurrency exchange, which resulted in a $37 million Solana wallet compromise. 2 major events have emerged shaping crypto activity within the region.