Ripple's CEO Brad Garlinghouse announced on Tuesday that the company received a green light from the New York Department of Financial Services (NYDFS) on the launch of its stablecoin RLUSD. XRP jumped nearly 7% after the announcement despite on-chain data showing a huge supply pool flooding the Binance exchange.

XRP prices are recovering from the broader crypto market crash earlier this year as the token was positively affected by news that Ripple's $RLUSD stablecoin has been approved by the NYDFS.

According to Ripple CEO Brad Garlinghouse, New York’s financial regulator has greenlighted the company’s RLUSD stablecoin for listings on exchanges.

RLUSD stablecoin approval from NYDFS secures Ripple's entry into the market, aiming at institutional focus and USDC competition.

XRP has surged significantly this month, driven by bullish momentum and widespread gains in the cryptocurrency market. Investor interest and positive

XRP rose 8% after New York's top crypto regulator granted Ripple final approval for its RLUSD stablecoin, with listings coming soon.

Ripple Labs CEO Brad Garlinghouse has reported that the New York Department of Financial Services (NYDFS) approved the firm’s RLUSD stablecoin after months of consideration. In a Dec. 10 X post, Garlinghouse said Ripple would “soon” announce exchange and partner listings for RLUSD after the NYDFS approval.

Ripple labs gains NYDFS approval for RLUSD stablecoin, pegged to the US dollar, with third-party audits, liquidity via XRP, and multiple exchange partners.

Ripple gains final NYDFS approval for its RLUSD stablecoin. Ripple hasn’t specified a launch date but says the listing will begin soon. Ripple’s CEO cautioned

Ripple’s RLUSD stablecoin has now received approval from the New York State Department of Financial Services (NYDFS). This is quite a big win for Ripple as the dollar-pegged token now complies with one of the most rigid rules in the United States.