Ripple's RLUSD Stablecoin Launch on Hold

Ripple has officially announced that its highly anticipated dollar-pegged stablecoin, RLUSD, will not be launching as initially expected. The delay is attributed to the need for final approval from the New York Department of Financial Services (NYDFS).

In a statement on X, Ripple emphasized their commitment to launching RLUSD under the supervision of NYDFS and adhering to the highest regulatory standards. The company said, "Despite some speculation, $RLUSD isn't launching today. We're in lockstep with the NYDFS on final approval and will share updates as soon as possible."

RLUSD, which has been beta-tested since August on both the XRP Ledger and Ethereum, is designed to enhance liquidity and complement Ripple's existing payment solutions. Stay tuned for further updates on this development.