New York is Poised to Greenlight XRP-Issued Stablecoin
New York’s financial regulatory authority is reportedly close to approving a new stablecoin from Ripple. According to sources familiar with the matter, the New York Department of Financial Services (NYDFS) has indicated that Ripple’s stablecoin, RLUSD, is on track for approval, with a potential launch date set for December 4. Ripple’s primary focus lies in its decentralized payment platform, RippleNet, which leverages blockchain technology to deliver faster and more cost-effective solutions for global transactions. This system serves as a modern alternative to SWIFT, the traditional international payment network. Ripple’s crypto, XRP, plays a key role in these transactions by acting…
