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

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,