Ripple's RLUSD Stablecoin Faces Delay

Ripple has 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 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. We are fully committed to launching under the supervision of NYDFS and upholding the highest regulatory standards. Stay tuned for updates!"

RLUSD, which has been beta-tested since August on the XRP Ledger and Ethereum, is expected to enhance liquidity and complement Ripple's payment solutions.