🪙 Ripple has officially received approval from the New York Department of Financial Services (NYDFS) to issue its own stablecoin RLUSD.

In September, Ripple CEO Brad Garlinghouse stated that the new stablecoin will be a key tool for banks and financial companies seeking transparency and efficiency. It is also worth noting that Ripple has implemented a strict reserve strategy: funds are held in dollars, U.S. Treasury bonds, and cash-equivalent assets. This decision increases trust from investors and aligns with the growing demands of regulators.