According to Ripple CEO Brad Garlinghouse, the company's RLUSD stablecoin has been officially approved by the New York State Department of Financial Services.
In a post on X on Tuesday, Garlinghouse announced the news, stating that "This just in…we have final approval from [the New York State Department of Financial Services] for RLUSD."
Ripple first announced plans to launch a stablecoin in April and stated that it would initially be available on Ledger and Ethereum.
The company began testing RLUSD in August and in October named Bitso, MoonPay, Uphold, Bitstamp and other platforms as its exchange partners for the token's launch.