RLUSD, Ripple's stablecoin, gains approval from New York's Dept. of Financial Services

Ripple's RLUSD stablecoin has secured final approval from the New York State Department of Financial Services, according to CEO Brad Garlinghouse.

"This just in…we have final approval from [the New York State Department of Financial Services] for RLUSD," Garlinghouse posted to X on Tuesday. "Exchange and partner listings will be live soon."

Last week, Ripple CTO David Schwartz said he hoped that RLUSD would be able to launch by the end of the year when speaking at The Block's Emergence conference  in Prague.

Ripple announced in April it planned to launch a stablecoin, and the token would initially be available on Ledger and Ethereum.

The company began testing RLUSD in August . Then, in October, Ripple named  Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA and Bullish as its exchange partners for RLUSD's launch, with market markers B2C2 and Keyrock to support its liquidity.