Ripple's RLUSD stablecoin will start trading this Tuesday (December 17) following regulatory approval by the New York State Department of Financial Services. This marks Ripple's significant move into the $203 billion stablecoin market. RLUSD is backed by the U.S. dollar and will initially be issued on the Ethereum blockchain. Ripple's initiative aims to leverage the stablecoin's potential, enhancing its position in the crypto market. The launch represents a critical step for Ripple as it navigates the competitive landscape of stablecoins, aiming to compete with established players in the market.
