{"id":143614,"date":"2024-11-30T10:00:17","date_gmt":"2024-11-30T08:00:17","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=143614"},"modified":"2024-11-30T02:02:30","modified_gmt":"2024-11-30T00:02:30","slug":"ripples-rlusd-stablecoin-set-for-launch-as-nydfs-approval-nears","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/ripples-rlusd-stablecoin-set-for-launch-as-nydfs-approval-nears\/","title":{"rendered":"Ripple&#8217;s RLUSD Stablecoin Set for Launch as NYDFS Approval Nears"},"content":{"rendered":"<p><strong><a href=\"https:\/\/www.foxbusiness.com\/markets\/ripple-poised-new-york-approval-stablecoin-set-enter-regulated-us-crypto-market\" target=\"_blank\" rel=\"nofollow\">Reports<\/a> <\/strong>from November 29 suggest the New York Department of Financial Services (NYDFS) may grant approval within days, potentially allowing the stablecoin to go live by December 4.<\/p>\n<p>This development highlights Ripple\u2019s strategic expansion into the stablecoin market, where demand for reliable and versatile digital assets continues to grow. Ripple intends to integrate RLUSD with its cross-border payment systems, using both RLUSD and XRP to enhance global transaction efficiency. While some XRP holders initially feared the stablecoin might overshadow the token, Ripple has made no such indication of a pivot in focus.<\/p>\n<p>First announced in April 2024, RLUSD is Ripple\u2019s answer to competitors like USDC and USDT. With industry projections suggesting the stablecoin market could reach a $2 trillion valuation by 2028, Ripple sees significant potential for growth. In August, the company began testing RLUSD on the XRP Ledger and Ethereum, with plans to extend support to other networks over time.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/binance-futures-to-remove-select-perpetual-contracts-next-month\/\" title=\"Binance Futures to Remove Select Perpetual Contracts Next Month\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/Dutch-Central-Bank-Fines-Binance-33-Million-Euros-240x170.jpeg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Binance Futures to Remove Select Perpetual Contracts Next Month<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>To ensure transparency and trust, Ripple will conduct regular third-party audits and release monthly updates on RLUSD\u2019s collateral reserves. Partnerships with major platforms such as Bitstamp, Uphold, and Bullish have already been secured, paving the way for widespread adoption. Ripple\u2019s CEO, Brad Garlinghouse, emphasized the company\u2019s ongoing commitment to XRP and compliance with strict regulatory standards, ensuring the stablecoin operates seamlessly within its ecosystem.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ripple Labs is preparing to launch its RLUSD stablecoin, which is pegged to the US dollar and backed by overcollateralized reserves.<\/p>\n","protected":false},"author":7,"featured_media":143616,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[22,24],"tags":[],"class_list":["post-143614","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","category-altcoins"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ripple&#039;s RLUSD Stablecoin Set 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