Ripple’s dollar-backed stablecoin, RLUSD, is officially on track for its December 4 debut in New York. The New York Department of Financial Services (NYDFS) is reportedly ready to approve the new product,

Ripple labs is poised to launch its RLUSD stablecoin as NYDFS approval nears, aiming to strengthen its position in the U.S. digital market.

Ripple’s RLUSD stablecoin nears NYDFS approval, offering a stable alternative to XRP and positioning Ripple in the regulated stabl

The New York Department of Financial Services (NYDFS) is expected to approve Ripple Labs’ RLUSD stablecoin — an overcollateralized dollar-pegged stablecoin — in the coming days, sources revealed to Fox Business.

Ripple's XRP rallied near the $2 mark on Friday after rumors of New York regulators approving the company's RLUSD stablecoin surfaced. The growing demand for an XRP exchange-traded fund (ETF) could also accelerate its launch in 2025.

Ripple's stablecoin RLUSD is expected to launch on December 4, pending NYDFS approval, positioning Ripple as a key player in regulated digital finance. The launch will compete with Circle, Paxos, and Gemini, offering a stable alternative to XRP for users seeking reduced volatility.

Ripple Labs has conducted one of its largest RLUSD stablecoin burns onchain as conversations around potential launch grows

The approval by the New York Department of Financial Services means that Ripple will be allowed to legally offer its stablecoin through a so-called limited purpose trust charter.