Ripple is on the brink of launching its regulated stablecoin, RLUSD, with approval from the New York Department of Financial Services (NYDFS) expected soon. 

According to FOX Business reports, the company has tentatively planned a December 4 launch. This will mark a significant step in Ripple’s expansion into New York’s tightly regulated digital finance space.

Ripple’s Stablecoin Could Provide a Regulated Entry to the US Crypto Market

Ripple’s entry into the stablecoin market places it in direct competition with established US issuers such as Circle, Paxos, and Gemini.

If finalized, the approval will allow Ripple to offer RLUSD as a stable and regulated digital currency alternative to XRP. This could appeal to customers seeking to avoid volatility and regulatory challenges associated with other cryptocurrencies. 

Meanwhile, New York remains a critical market for stablecoin issuers. The state has maintained a regulatory framework for these assets. The NYDFS imposes stringent requirements, including transparency, security, and consumer protection standards.

“XRP, 1,000 times faster and 1,000 times cheaper than Bitcoin, when paired with Ripple’s soon to be released RLUSD Stablecoin, a tool our US Treasury recently deemed a vital liquidity product backed by US Treasury Bills, America and the world dodges economic chaos & destruction,” Rob Cunningham wrote on X (formerly Twitter). 

Companies like Ripple often pursue limited-purpose trust charters to offer digital asset services without the extensive oversight faced by traditional banks. Others, such as Coinbase and Robinhood, operate under New York’s BitLicense to facilitate crypto trading and cu

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Author: Mohammad Shahid