Ripple's RLUSD Stablecoin Approved by NYDFS; XRP Surges 30% Ahead of Listings

Dec 10, 2024, 08:36 PM

Ripple has received final approval from the New York Department of Financial Services (NYDFS) to launch its RLUSD stablecoin, according to CEO Brad Garlinghouse. The RLUSD stablecoin, issued on both the XRP Ledger and Ethereum, is pegged to the U.S. dollar and is expected to enhance liquidity and expand Ripple's ecosystem. Exchange and partner listings are anticipated to go live soon, with Ripple cautioning against fake RLUSD tokens. Following the announcement, XRP surged up to 30% to $2.75, reflecting positive market reception.