Key Takeaways
- Ripple’s upcoming stablecoin is awaiting final approval from regulators.
- Users expected RLUSD to launch on Wednesday, Dec. 4.
- Ripple Labs CEO Brad Garlinghouse previously claimed the stablecoin will be focused on large institutional players.
Ripple has extended the launch date of its United States dollar-pegged stablecoin Ripple USD (RLUSD) after claiming it was dealing with the New York State Department of Financial Services (NYDFS).
The blockchain giant has been beta testing RLUSD since early August on its platform, the Ethereum mainnet, and the XRP Ledger.
RLUSD Launch Looming
Ripple’s stablecoin was expected to be released on Wednesday, Dec. 4; however, the firm took to X to end users’ speculation.
“Despite some speculation, RLUSD isn’t launching today,” Ripple wrote. “We’re in lockstep with the NYDFS on final approval and will share updates as soon as possible.” the company wrote.
The blockchain giant said it was “committed to launching under the supervision of NYDFS and upholding the highest regulatory standards.”
Eagerly waiting users received the post well, thanking the firm for being open in their communication.
“It goes without saying that official press releases/public statements are important. Thanks for the clarification,” said one user.
What To Expect?
Following RLUSD’s reveal announcement in April, Ripple Labs said there was a clear demand for stablecoins that deliver “trust, stability, and utility.”
“Once RLUSD is available, Ripple will use both RLUSD and XRP in its cross-border payments solution to serve its global customers and dramatically improve their experience,” the company said.
Ripple Labs CEO Brad Garlinghouse said in September that RLUSD will be focused on large institutional players.
“We think there’s an opportunity for another player in the stablecoin market to exist that focuses on institutions, focuses on compliance,” Garlinghouse said.
This will follow a similar model to other stablecoin issuers like Tether and Circle which cater directly to financial institutions such as banks and hedge funds.
The stablecoin market has seen major growth in 2024 alongside an increase in institutional adoption and the widespread of crypto.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
