"New York Regulator Expected to Approve Ripple (XRP) Stablecoin Soon"

On the 29th (local time), US media Fox Business reported that "the New York Department of Financial Services (NYDFS) is expected to approve a new stablecoin issued by Ripple (XRP) soon, with an announcement expected in a few weeks."

The media stated, "With NYDFS's approval, Ripple can issue a regulated stablecoin, providing a stable solution for XRP," adding, "This means Ripple can legally service its own stablecoin RLUSD, positioning itself as a major player in the digital financial market with New York's regulatory application."

On the other hand, the media reported that Ripple and NYDFS requested a comment but did not receive a response.

Earlier, Ripple announced that it had completed preparations for the launch of its own stablecoin RLUSD in June.