Ripple secures the final NYDFS permit for RLUSD

• ripple received the approval for the introduction of his stable coin Ripple USD (RLUSD).
• CEO Brad Garlinghouse pointed out in a post on X.

ripple will soon bring his stablecoin Rlusd onto the market after it has received the final approval of the New York Ministry of Finance.

Brad Garlinghouse, The CEO von Ripple, confirmed This is confirmed via a post on Tuesday, December 10, 2024.

"This is right ... We have the final approval of NYDFs for $ RLUSD! Börsen- und partner lists will soon be online- and as a reminder: If Rlusd is live, you will hear it first from Ripple," wrote Garlinghouse.

The official ripple to the losses of the old coin came when Bitcoin reduced its profits to less than $ 95,000 and most coins were traded lower.

ripple receives regulatory nod

At the beginning of this month, Ripple rejected reports that the stable coin coupled to the US dollar would be introduced. Rather, it confirmed that the official start of the official approval of the NYDF was waiting.

despite some speculations $ rlusd does not start today. We are in step with regard to the final approval with the NYDFS and will publish updates as soon as possible.

We are determined to start under the supervision of NYDFs and to comply with the highest regulatory standards. Stay tuned ...

- Wellness (@ripple) 4. December 2024

In an earlier announcement on stock market and platform partners, Ripple called companies such as Bitstamp, Uphold, Coinmena and Bullish.

In the meantime, the company announced that RLUSD will be coupled to the US dollar in a ratio of $ 1: 1 and will be 100 % covered by USD deposits, short-term US state bonds and other cash equivalents. The stable coin went live in the private beta phase in August and was introduced both in the XRP Ledger and in Ethereum-Minnet.

Although the company expects RLUSD to introduce it soon, it has warned its users and the wider market to take care of imitations or frauds.

$ rlusd starts soon!

Stay vigilant and report any imitations or frauds. https://t.co/yqnadbqsfw

- Wellness (@ripple) 10. December 2024

ripple announced plans to introduce his stable coin in April.

When entering the market, RLUSD will compete with the leading stable coins coupled to the US dollar. The market leader in this segment is USDT from Tether with a market capitalization of over $ 138 billion. USDC, the second largest, has a market capitalization of over $ 40 billion.