Ripple Labs Eyes RLUSD Launch Amid Potential New York Approval

Quick Summary:

Ripple labs is preparing to launch its regulated stablecoin, RLUSD, following indications that New York’s top financial regulator, the Department of Financial Services (NYDFS), is poised to approve the product.

If approved, Ripple will be able to issue its stablecoin under a limited-purpose trust charter.

By being pegged to a stable asset, RLUSD will attract customers seeking a more predictable and reliable digital currency.

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Article Details

Author / Journalist: Ronny Mugendi

Category: Crypto

Markets: India

Topics: Ripple (XRP) RLUSD Stablecoin Stablecoin News 24/7 Cryptocurrency News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-30 @ 00:19:15 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 516 words

Reading Time: 3 minutes read

Sentences: 36 lines

Sentence Length: 15 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 23958302

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Main Topics: Crypto

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News Last Updated: 8 hours ago

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