New York Regulator Nears Approval of Ripple’s RLUSD Stablecoin
The New York Department of Financial Services is poised to approve Ripple Labs’ RLUSD stablecoin, enhancing Ripple’s position in the competitive stablecoin market. The RLUSD, an overcollateralized dollar-pegged stablecoin, is expected to be launched following its approval, potentially increasing Ripple’s market influence.