In a post on the social media platform X, Ripple chief executive Brad Garlinghouse says that Ripple USD (RLUSD) – the firm’s new dollar-pegged crypto asset – has been approved by the New York Department of Financial Services (NYDFS).

The XRP price surged over 6% in the last 24 hours after Ripple CEO Brad Garlinghouse said stablecoin RLUSD had received regulatory approval.

Ripple gains final NYDFS approval for its RLUSD stablecoin. Ripple hasn’t specified a launch date but says the listing will begin soon. Ripple’s CEO cautioned

According to Ripple CEO Brad Garlinghouse, New York’s financial regulator has greenlighted the company’s RLUSD stablecoin for listings on exchanges.

XRP is soaring after its creator, Ripple, announced that its planned and unrelated RLUSD stablecoin has finally received regulatory approval and is preparing to launch “soon.” XRP is up 11% in the last 24 hours,

Ripple Labs' RLUSD , fully backed by U.S. Treasury bonds, gained NYDFS approval, enhancing its compliance-first

XRP prices are recovering from the broader crypto market crash earlier this year as the token was positively affected by news that Ripple's $RLUSD stablecoin has been approved by the NYDFS.

RLUSD stablecoin approval from NYDFS secures Ripple's entry into the market, aiming at institutional focus and USDC competition.

XRP has surged significantly this month, driven by bullish momentum and widespread gains in the cryptocurrency market. Investor interest and positive

Ripple's RLUSD stablecoin has been approved for listing by the NYDFS, nearly one week after rumors of an official launch, CEO Brad Garlinghouse announced in an X post on Tuesday. The approval confirms that RLUSD can now go live on major exchanges.