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Ripple Receives Final Approval to Launch Its RLUSD Stablecoin: Here is What We Know

by Sham
December 10, 2024
in Business, Crypto
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Ripple Receives Final Approval to Launch Its RLUSD Stablecoin: Here is What We Know
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• Ripple’s RLUSD stablecoin has received regulatory approval from the New York State Department of Financial Services (NYDFS)
• The stablecoin will soon be listed on major exchanges
• Ripple initially announced the stablecoin in April and started beta testing it in August

Ripple’s stablecoin, RLUSD, has received a significant boost following its official regulatory approval by the New York State Department of Financial Services (NYDFS). This news has caused a significant stir within the cryptocurrency community, as this means the dollar-pegged token will soon be available on major exchanges.

JUST IN: Ripple $XRP receives official approval from the @NYDFS to launch its $RLUSD stable coin 👀

Exchange listings will be live soon, according to Ripple CEO @bgarlinghouse pic.twitter.com/Fym6VzBHYC

— BlockNews (@blocknewsdotcom) December 10, 2024

Ripple’s Stablecoin Receives Regulatory Nod

Ripple CEO, Brad Garlinghouse, has announced that the company’s RLUSD stablecoin has officially gained approval from the New York State Department of Financial Services (NYDFS). This approval signifies a major milestone for Ripple, as it paves the way for the much-anticipated dollar-pegged token to be listed on prominent exchanges in the near future.

Future Plans for the RLUSD Stablecoin

Garlinghouse has confirmed that the process of listing the RLUSD stablecoin on partner exchanges will commence soon. This announcement has heightened the anticipation within the Ripple community and the broader cryptocurrency market, as they eagerly await the opportunity to trade the stablecoin on their preferred platforms.

The Journey of Ripple’s Stablecoin

Ripple initially announced the development of its stablecoin back in April. By August, the company had already commenced beta testing of the RLUSD stablecoin on the XRP Ledger and Ethereum platforms with some of its enterprise partners. This swift progress has demonstrated Ripple’s commitment to innovation and its ability to deliver on its promises.

A Warning Against Scams

Ripple has also issued a stern warning to all its users to remain vigilant and promptly report any impersonations or scams. The company made this announcement on its social media platforms, emphasizing the importance of security in the rapidly evolving cryptocurrency landscape.

bitget.com

Conclusion

The regulatory approval of Ripple’s RLUSD stablecoin by the NYDFS marks a significant step forward in the company’s journey. As the cryptocurrency community eagerly anticipates the stablecoin’s listing on major exchanges, Ripple continues to demonstrate its commitment to innovation within the digital currency sphere.

Tags: Brad garlinghousecryptocurrencyNYDFSrippleRLUSD
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