#RLUSDApprovalBoostXRP Ripple Secures

NYDFS Approval for RLUSD Stablecoin, Aiming for $2 Trillion Market Cap by 2028.

Ripple Labs’ RLUSD stablecoin has been approved by the New York Department of Financial Services (NYDFS), according to CEO Brad Garlinghouse. He announced the regulatory greenlight on Dec. 10 and said exchange and partner listings for the stablecoin would be live soon. Ripple originally planned to launch RLUSD as a competitor to Tether’s USDT and Circle’s USDC, with the stablecoin pegged 1:1 to the U.S. dollar. It will be backed by USD deposits, short-term U.S. Treasury bonds, and other cash equivalents.

Ripple Secures NYDFS Approval for RLUSD Stablecoin, Aiming for $2 Trillion Market Cap by 2028

Decentralized Dog

Wed, December 11, 2024 at 12:22 PM GMT+5:30 2 min read

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Ripple Secures NYDFS Approval for RLUSD Stablecoin, Aiming for $2 Trillion Market Cap by 2028

Ripple Secures NYDFS Approval for RLUSD Stablecoin, Aiming for $2 Trillion Market Cap by 2028

Ripple Labs’ RLUSD stablecoin has been approved by the New York Department of Financial Services (NYDFS), according to CEO Brad Garlinghouse. He announced the regulatory greenlight on Dec. 10 and said exchange and partner listings for the stablecoin would be live soon. Ripple originally planned to launch RLUSD as a competitor to Tether’s USDT and Circle’s USDC, with the stablecoin pegged 1:1 to the U.S. dollar. It will be backed by USD deposits, short-term U.S. Treasury bonds, and other cash equivalents.#RLUSDApprovalBoostXRP $XRP