Ripple’s RLUSD stablecoin has received approval from the New York Department of Financial Services (NYDFS). Ripple CEO Brad Garlinghouse shared the news on social media, asserting that the exchange and partner listings for RLUSD would go live soon. The announcement caused XRP, Ripple’s native token, to rally by 10%.&lt;embed&gt;<a href="https://x.com/bgarlinghouse/status/1866571228464460215" rel="noopener noreferrer nofollow">https://x.com/bgarlinghouse/status/1866571228464460215</a>&lt;/embed&gt;Ripple has been anticipating this scenario for an extended period now. The RLUSD, launched in August, was initially used on the XRP Ledger and <a href="https://cryptotale.org/ripple-mints-485-rlusd-tokens-on-ethereum-and-xrpl-networks/" rel="noopener noreferrer nofollow">Ethereum</a> platforms. RLUSD will be a dollar-pegged stablecoin backed by the US dollar. It will also hold its reserves in short-term US government treasuries and other cash equivalents. This structure is similar to major stablecoins, such as USDT and USDC.The NYDFS approval allows RLUSD to comply with strict regulations. Ripple is now ready to launch the stablecoin on major crypto exchanges. It has partnerships with exchanges such as Uphold, Bitstamp, and Bitso. Ripple aims to strengthen its position in the growing stablecoin market.<a href="https://cryptotale.org/ripples-rlusd-stablecoin-secures-nydfs-approval-for-launch/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Ripple's RLUSD Stablecoin Secures NYDFS Approval for Launch

CryptoTale

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