BREAKING: Ripple CEO Brad Garlinghouse Gives Good News for XRP

Ripple CEO Brad Garlinghouse announced that the New York Department of Financial Services has given approval for Ripple USD (RLUSD).

Ripple’s RLUSD stablecoin has officially received final approval from the New York State Department of Financial Services (NYDFS).

Ripple CEO Brad Garlinghouse announced the news today via social media platform X, writing, “This just arrived… We have received final approval from the New York State Department of Financial Services for RLUSD. Exchange and partner listings coming soon.”

Speaking at The Block’s Emergence Conference in Prague last week, Ripple CTO David Schwartz expressed optimism that RLUSD would be launched by the end of the year. The stablecoin’s approval paves the way for Ripple to meet that timeline, bringing the highly anticipated token closer to availability.

Ripple first announced plans to launch RLUSD in April 2024, with the token designed to run on both the XRP Ledger and Ethereum blockchains. Testing began in August, paving the way for regulatory approval and subsequent launch.

Ripple has partnered with leading exchanges and liquidity providers to ensure a smooth launch of RLUSD. Notable exchange partners include Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA, and Bullish.