NYDFS greenlights RLUSD stablecoin as Ripple prepares for exchange listings
RLUSD receives final approval from NYDFS
Ripple has received final approval for its RLUSD stablecoin from the New York Department of Financial Services (NYDFS).
The announcement was made public by Ripple CEO Brad Garlinghouse, who shared the news on his social media account on X.
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"It’s official... We’ve received final approval from NYDFS for RLUSD! Exchange listings and partner integrations coming soon," Garlinghouse wrote, adding that he would be the first to inform followers about the stablecoin's launch.
The launch of RLUSD is a significant milestone for Ripple as the company aims to strengthen its position in the institutional client segment. Some analysts have speculated that Ripple’s failure to secure NYDFS approval a week or two earlier contributed to the recent stagnation in XRP's growth.
Brad Garlinghouse, CEO of Ripple Labs, has criticized CBS’s 60 Minutes for excluding crucial details about a landmark court ruling related to XRP during its Dec. 8 segment on cryptocurrency. The program discussed Ripple’s political contributions through Fairshake, a pro-crypto political action committee, and the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC).
