Blockchain company, Ripple, has finally received the go-ahead from the New York State Department of Financial Services (NYDFS) to launch its much-anticipated stablecoin, RLUSD. This comes after speculations about a potential launch on December 4.
In a recent tweet, CEO Brad Garlinghouse disclosed that listings on major crypto exchanges and partner platforms will be live soon. This means that RLUSD will be available to the global market soon. Recall that Ripple announced its venture into the stablecoin market in April this year.
In August, the company launched the coin for private testing on the XRP Ledger and Ethereum network. During that time, Ripple collaborated with selected firms to ensure that RLUSD worked properly and delivered the desired value.
Ripple had stated that upon public launch, RLUSD would be available across multiple networks for easy accessibility. Moreover, Garlinghouse urged the crypto community to be vigilant and only watch out for announcements from official Ripple channels to prevent cases of fraud.
This just in…we have final approval from NYDFS for RLUSD! Exchange and partner listings will be live soon – and reminder: when RLUSD is live, you’ll hear it from Ripple first," he said.