JUST IN: Ripple’s RLUSD Stablecoin Secures NY Approval

According to Ripple CEO Brad Garlinghouse, the company's RLUSD stablecoin has received formal approval from the New York State Department of Financial Services (NYDFS).

The long-awaited token will debut on prominent cryptocurrency exchanges in the near future. Ripple’s CEO assured that the exchange’s peer-to-peer integration listings will go live “soon“.

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As previously reported, Ripple first revealed plans to create a stablecoin back in April. By August, the product entered beta testing on the XRP Ledger and Ethereum platforms in collaboration with select enterprise partners.

The company also stressed the importance of vigilance against scams and copycats, urging users to report suspicious activities through its social media channels.

This just in…we have final approval from @NYDFS for $RLUSD! Exchange and partner listings will be live soon – and reminder: when RLUSD is live, you’ll hear it from @Ripple first.

— Brad Garlinghouse (@bgarlinghouse) December 10, 2024

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.