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.

The NYDFS is reportedly poised to approve Ripple Labs’ RLUSD, an overcollateralized stablecoin pegged to the U.S. dollar.

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

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.