Ripple 
$2 Labs is gearing up to launch its regulated stablecoin, RLUSD ($1.00). Signs indicate that the New York State Department of Financial Services (NYDFS) may approve this product, allowing Ripple to offer it under a limited-purpose trust. If approved, the company will position itself as a significant player in the regulated digital finance market in the United States.
Regulatory Approval and Market Entry
According to a recent report, Ripple Labs is nearing the completion of its approval process with the NYDFS for the RLUSD stablecoin. The NYDFS is known for its strong transparency standards, requiring companies to provide a high level of transparency before offering digital assets.
Features of RLUSD and Competition
Once approved, Ripple will be able to issue RLUSD under a limited-purpose trust. This will enable Ripple to compete directly with other U.S.-based issuers such as Circle, Paxos, and Gemini in the stablecoin market. RLUSD aims to provide a more stable alternative compared to the volatility of XRP ($2.34).
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