#XRP $XRP
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New York regulator approves Ripple's RLUSD stablecoin
In April 2024, it first became known that Ripple was planning to issue its own stablecoin — RLUSD. The fintech startup positions the product as a competitor to Tether USDTUSD and Circle USDCUSD. The project's leaders believe that the capitalization of the RLUSD stablecoin could reach $2 trillion by 2028.
By August, the developers began testing the "stable" coin on the XRP Ledger and the Ethereum mainnet.
In October, it was reported that Ripple had entered into partnerships with major crypto exchanges and crypto platforms, including Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish.
In early December, the regulator approved the launch of a stablecoin.