Demex Daily #295: Ripple to Launch Regulated Stablecoin RLUSD in New York

What’s Interesting Today:

Ripple is set to receive approval from New York’s Department of Financial Services (NYDFS) to launch its regulated stablecoin, RLUSD, as early as December 4. This will allow Ripple to enter the regulated U.S. crypto market and offer a stable alternative to its volatile token XRP. The launch positions Ripple to compete with established stablecoin issuers like Circle and Paxos. Ripple acquired Standard Custody & Trust, a licensed company, to facilitate the issuance of RLUSD. The stablecoin aims to provide faster, cheaper cross-border payments, and Ripple will collaborate with providers like Bitstamp and Moonpay for the rollout.

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