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Ripple's Stablecoin Stuns Major US Exchanges as XRP Community Awaits Launch

San Francisco-based crypto payment provider Ripple is reportedly accelerating preparations for its upcoming stablecoin, Ripple USD (RLUSD). Recent transfers of four million RLUSD from Ripple's treasury to unknown XRP Ledger-based wallets indicate progress in the development of RLUSD. It is speculated that the transfers took place between Ripple and major U.S. cryptocurrency exchanges Bitstamp and Kraken. Ripple CEO Brad Garlinghouse recently announced that the company had received final approval from the New York State Department of Financial Services for RLUSD. Although the market expected RLUSD to launch today, there is no guarantee, as Ripple has until the end of the year to release its stablecoin. RLUSD has the potential to compete with popular stablecoins such as USDC and USDT in the growing stablecoin market.

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