CandleFocus Ripple addresses RLUSD New York delay, as XRP's growth fuels ecosystem hype
2024-12-05
Author: Content Editor
Ripple has announced a delay in the launch of its RLUSD stablecoin due to regulatory issues with the New York State Department of Financial Services (NYDFS). The company emphasized its commitment to regulatory compliance and stated that RLUSD would only be launched after securing the necessary approvals from NYDFS. This delay comes at a time of increased interest in Ripple's ecosystem, as the value of its digital asset XRP has grown by 400% in the past month. However, XRP experienced a drop in price recently, causing losses for crypto speculators. Despite this, interest in XRP and other projects in its ecosystem remains high, as reflected in the increasing number of active accounts on the XRP Ledger and decentralized exchange trading activity.
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