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Ripple’s RLUSD Gains Regulatory Approval

Ripple's stablecoin got the sign-off from New York's top financial regulator.
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Dec 11, 2024 • 1 min read

Ripple's RLUSD stablecoin has secured final approval from the New York State Department of Financial Services, signaling readiness for its launch. CEO Brad Garlinghouse confirmed the news, with listings and exchange integrations expected soon.

What’s the Scoop?

  • Cleared for business: NYDFS granted regulatory approval, clearing RLUSD for operation in one of the strictest jurisdictions for digital assets.
  • ETH-ready: RLUSD will launch on both XRP Ledger and Ethereum.

Bankless Take

Ripple’s NYDFS approval underscores the growing importance of regulatory compliance in the stablecoin space. RLUSD’s compatibility with Ethereum and partnerships with major exchanges position it as a strong entrant into the stablecoin market. However, competing against players like USDC and Tether will require significant adoption and utility. Ripple’s strategic liquidity support and cross-chain plans could pave the way for a robust rollout, signaling a broader push toward institutional acceptance.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

Published in Bankless

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