🌋 Ripple’s RLUSD Stablecoin Officially Approved by NYDFS
posted 11 Dec 2024
Ripple’s RLUSD stablecoin has successfully passed all regulatory reviews and received final approval from the New York Department of Financial Services. Following the announcement, the team is already preparing for future exchange listings.
Ripple CEO Brad Garlinghouse expressed his satisfaction with the approval, emphasizing that it opens up new opportunities to expand Ripple’s ecosystem and strengthen partnerships.
RLUSD is a USD-backed digital token designed as an optimal solution for transactions between Ripple Payments clients.
Ripple has already partnered with major cryptocurrency exchanges such as Uphold, Bitstamp, and Bitso, as well as liquidity providers B2C2 and Keyrock. The involvement of these key players highlights the significant potential of RLUSD.
For more details, read our article, "RLUSD Stablecoin: Latest Updates and Insights."
Ripple has already partnered with major cryptocurrency exchanges such as Uphold, Bitstamp, and Bitso, as well as liquidity providers B2C2 and Keyrock. The involvement of these key players highlights the significant potential of RLUSD.
In this context, the recent interaction between Brad Garlinghouse and Cardano founder Charles Hoskinson has garnered attention. Both expressed a willingness to collaborate on significant initiatives within the crypto industry, with Hoskinson explicitly suggesting the integration of RLUSD into the Cardano ecosystem.
Regulatory approval and the active expansion of partnerships position RLUSD as one of the most promising projects in the stablecoin market.
However, some industry experts have voiced concerns about the potential return of Caroline Crenshaw as an SEC Commissioner. They believe her appointment could result in a stricter regulatory stance against Ripple in ongoing legal battles, potentially posing challenges for RLUSD’s future.
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