According to Ripple CEO Brad Garlinghouse, the company's RLUSD stablecoin has officially obtained approval from the New York State Department of Financial Services (NYDFS).
This means that the much-talked-about dollar-pegged token will become available on major exchanges in the near future.
Garlinghouse has confirmed that partner listings and exchanges will be live "soon."
Tomiwabold OlajideAs reported by U.Today, the stablecoin was initially announced by Ripple back in April.
The product became available for beta testing on the XRP Ledger and Ethereum back in August with some of its enterprise partners.
"Stay vigilant and report any impersonations or scams," the company said on social media.
Earlier today, Bitwise predicted that stablecoin assets could double to $400 billion next year.
Bernstein has predicted that the stablecoin market could grow to nearly $3 trillion in four years.
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Arman Shirinyan
Dan Burgin
Vladislav Sopov