Ripple
December 10, 2024
Ripple Unicorn News - December 10, 2024
Ripple's U.S. dollar stablecoin, RLUSD, has received final regulatory approval from the New York Department of Financial Services, marking a significant milestone for the company. This approval sets the stage for the public launch of RLUSD, currently in test mode on Ethereum and XRP Ledger networks. Following the announcement, XRP surged 10%, highlighting Ripple's strategic move into the stablecoin market.
() Introduction
() XRP Rallies 10% as Ripple's Stablecoin Gets Regulatory Approval, CEO Garlinghouse Says
Ripple has achieved a major milestone with its U.S. dollar stablecoin, RLUSD, securing final regulatory approval from the New York Department of Financial Services. This approval paves the way for RLUSD’s public launch, currently in test mode on both the Ethereum and XRP Ledger networks. The move reinforces Ripple's strategic expansion into the stablecoin market, positioning it as a direct competitor to industry leaders like Tether and Circle. Following the announcement, XRP surged 10%, reflecting market confidence in Ripple's vision to leverage RLUSD for cross-border payments and institutional scalability, while further solidifying its foothold in the evolving digital asset landscape.
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