Ripple’s RLUSD stablecoin has now received approval from the New York State Department of Financial Services (NYDFS). This is quite a big win for Ripple as the dollar-pegged token now complies with one of the most rigid rules in the United States. The stablecoin is expected to be launched on major cryptocurrency exchanges in the near future.
Ripple CEO Brad Garlinghouse revealed the approval and stated that partner listings would go live “ soon.” This announcement cements Ripple’s position in the growing stablecoin market, with the company continuing to stress compliance and enterprise usage.
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
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