Ripple delays RLUSD launch, awaits NYDFS approval

Ripple confirmed on Wednesday that its much-anticipated dollar-pegged stablecoin, RLUSD, is not launching as expected, citing the need for final approval from the New York Department of Financial Services (NYDFS).

"Despite some speculation, $RLUSD isn't launching today. We're in lockstep with the NYDFS on final approval and will share updates as soon as possible. We are fully committed to launching under the supervision of NYDFS and upholding the highest regulatory standards. Stay tuned for updates!" Ripple said on X.

Beta-tested since August on the XRP Ledger and Ethereum, RLUSD is expected to strengthen liquidity and complement Ripple's payment solutions.