....And the Ripple Stablecoin is finally set for December.... This is Huge.
XRP to the moonđ
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Rippleâs Stablecoin RLUSD Approved for December Launch in New York
Rippleâs dollar-backed stablecoin, RLUSD, is officially on track for its December 4 debut in New York. The New York Department of Financial Services (NYDFS) is reportedly ready to approve the new product, clearing Ripple to enter the highly regulated New York finance market.
Rippleâs core business, built around RippleNet, enables faster, cheaper international payments through blockchain technology. Now, with RLUSD, Ripple says it wants to expand its reach, offering businesses a less risky way to use the blockchain for financial transactions.
XRPâs legal headache and Trumpâs crypto promises
Ripple has been at the center of one of the most closely watched regulatory battles in crypto history. Since 2020, the company has faced a lawsuit from the SEC over allegations that XRP, its native cryptocurrency, is an unregistered security.
The lawsuit sent XRP into a tailspin, with its price plummeting by over 50% and wiping $16 billion from its market cap. For years, XRP struggled to recover, with its value staying under $1. Rippleâs fight with the SEC has been a major obstacle, dragging on for four years.
But things changed after Donald Trumpâs re-election victory earlier this month. Trumpâs campaign promises to make the U.S. the âcrypto capital of the planetâ have reignited optimism in the crypto community.
XRP saw a massive price jump following Trumpâs win, soaring to $1.70 and climbing back into the top five cryptocurrencies by market cap, now valued at over $99 billion.
The change in political leadership will also ease Rippleâs legal troubles. Many expect Trumpâs administration to take a more favorable stance toward crypto.
Trumpâs team may even appoint a former Commodity Futures Trading Commission (CFTC) chair to oversee the regulatory overhaul, potentially dropping the SECâs case against Ripple altogether.
RLUSD: Rippleâs gateway to the stablecoin market
The global stablecoin market is currently valued at $190 billion and growing fast. Unlike cryptocurrencies like XRP or Bitcoin, stablecoins are pegged to real-world assets, making them less volatile.
They are used for everything from remittances to cross-border payments to everyday transactions, particularly in regions where traditional banking systems are slow or expensive.
RLUSD will directly compete with U.S.-issued stablecoins like Circleâs USDC, Paxosâ PAX, and Geminiâs GUSD. These players are already established in New York, holding licenses from NYDFS. Ripple is expected to secure a trust charter, allowing it to offer RLUSD while meeting NYDFSâs stringent standards for transparency, security, and consumer protection.
This trust charter is a big deal. It offers companies like Ripple the ability to operate without the complexities of a full banking license while still providing regulated financial services. NYDFS has been a gatekeeper for crypto firms wanting to operate in New York, issuing licenses only to firms that meet its strict criteria.
Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap
Rippleâs core business, built around RippleNet, enables faster, cheaper international payments through blockchain technology. Now, with RLUSD, Ripple says it wants to expand its reach, offering businesses a less risky way to use the blockchain for financial transactions.
XRPâs legal headache and Trumpâs crypto promises
Ripple has been at the center of one of the most closely watched regulatory battles in crypto history. Since 2020, the company has faced a lawsuit from the SEC over allegations that XRP, its native cryptocurrency, is an unregistered security.
The lawsuit sent XRP into a tailspin, with its price plummeting by over 50% and wiping $16 billion from its market cap. For years, XRP struggled to recover, with its value staying under $1. Rippleâs fight with the SEC has been a major obstacle, dragging on for four years.
But things changed after Donald Trumpâs re-election victory earlier this month. Trumpâs campaign promises to make the U.S. the âcrypto capital of the planetâ have reignited optimism in the crypto community.
XRP saw a massive price jump following Trumpâs win, soaring to $1.70 and climbing back into the top five cryptocurrencies by market cap, now valued at over $99 billion.
The change in political leadership will also ease Rippleâs legal troubles. Many expect Trumpâs administration to take a more favorable stance toward crypto.
Trumpâs team may even appoint a former Commodity Futures Trading Commission (CFTC) chair to oversee the regulatory overhaul, potentially dropping the SECâs case against Ripple altogether.
RLUSD: Rippleâs gateway to the stablecoin market
The global stablecoin market is currently valued at $190 billion and growing fast. Unlike cryptocurrencies like XRP or Bitcoin, stablecoins are pegged to real-world assets, making them less volatile.
They are used for everything from remittances to cross-border payments to everyday transactions, particularly in regions where traditional banking systems are slow or expensive.
RLUSD will directly compete with U.S.-issued stablecoins like Circleâs USDC, Paxosâ PAX, and Geminiâs GUSD. These players are already established in New York, holding licenses from NYDFS. Ripple is expected to secure a trust charter, allowing it to offer RLUSD while meeting NYDFSâs stringent standards for transparency, security, and consumer protection.
This trust charter is a big deal. It offers companies like Ripple the ability to operate without the complexities of a full banking license while still providing regulated financial services. NYDFS has been a gatekeeper for crypto firms wanting to operate in New York, issuing licenses only to firms that meet its strict criteria.
Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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