🗣 New York's top cryptocurrency regulator is close to approving Ripple's new stablecoin
⏺ The New York Department of Financial Services has indicated that Ripple will approve the product, with a potential launch date of December 4.
⏺ If approved, Ripple will be able to legally offer its stablecoin, RLUSD, to the public, establishing it as a major player in New York's regulated digital finance market and the broader stablecoin ecosystem.
⏺ Ripple's core business revolves around RippleNet, a decentralized global payments network that uses blockchain technology to provide banks and businesses with faster, cheaper, and more efficient cross-border payment solutions.
⏺ The move will also put Ripple in direct competition with other established US stablecoin issuers such as Circle, Paxos, and Gemini.
⏺ The New York Department of Financial Services has indicated that Ripple will approve the product, with a potential launch date of December 4.
⏺ If approved, Ripple will be able to legally offer its stablecoin, RLUSD, to the public, establishing it as a major player in New York's regulated digital finance market and the broader stablecoin ecosystem.
⏺ Ripple's core business revolves around RippleNet, a decentralized global payments network that uses blockchain technology to provide banks and businesses with faster, cheaper, and more efficient cross-border payment solutions.
⏺ The move will also put Ripple in direct competition with other established US stablecoin issuers such as Circle, Paxos, and Gemini.