Ripple gains final NYDFS approval for its RLUSD stablecoin. Ripple hasn’t specified a launch date but says the listing will begin soon. Ripple’s CEO cautioned

XRP prices are recovering from the broader crypto market crash earlier this year as the token was positively affected by news that Ripple's $RLUSD stablecoin has been approved by the NYDFS.

Ripple has achieved a major milestone with the New York Department of Financial Services (NYDFS) approving its RLUSD stablecoin. RLUSD, a dollar-pegged stablecoin built on the XRP Ledger, is designed for efficient cross-border payments while maintaining a 1:1 parity with the US dollar.

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.

Ripple Labs’ RLUSD stablecoin has been approved by the New York Department of Financial Services (NYDFS), according to CEO Brad Garlinghouse.

RLUSD stablecoin approval from NYDFS secures Ripple's entry into the market, aiming at institutional focus and USDC competition.

XRP (XRP-USD), the native cryptocurrency of the XRP Ledger, which was created by Ripple's founders, extended its strong bull run in Wednesday morning trading, surging 20%, after Ripple CEO Brad Garlinghouse said the private fintech company's much-anticipated stablecoin received final approval from the New York Department of Financial Services.

Ripple's stablecoin RLUSD is expected to launch on December 4, pending NYDFS approval, positioning Ripple as a key player in regulated digital finance. The launch will compete with Circle, Paxos, and Gemini, offering a stable alternative to XRP for users seeking reduced volatility.