🪙🚀New York financial regulator approves Ripple's stablecoin, Brad Garlinghouse

👀 Ripple's CEO said that RLUSD trading would be "available soon" on exchanges after the New York Department of Financial Services approved the stablecoin.

Ripple Labs CEO Brad Garlinghouse reported that the New York Department of Financial Services (NYDFS) has approved the firm's RLUSD stablecoin after months of consideration. Ripple executives speculated that the stablecoin could reach a market cap of $2 trillion by 2028.

☝️ The firm began testing RLUSD on the XRP ledger and Ethereum mainnets in August and announced partnerships with exchanges including Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish in October.

Garlinghouse appeared on a 60 Minutes segment aired on Dec. 8 to discuss the cryptocurrency industry's role in influencing the 2024 U.S. election.

✨️ Ripple is also involved in an ongoing legal battle with the U.S. Securities and Exchange Commission over XRP token offerings.

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