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 regulatory compliance, stating, "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 in beta-testing since August on both the XRP Ledger and Ethereum, is designed to enhance liquidity and further complement Ripple's existing payment solutions.