Ripple’s CEO Brad Garlinghouse said yesterday that the New York Department of Financial Services (NYDFS) has approved its stablecoin US dollar RLUSD, resulting in a 7% boost in the value of the XRP cryptocurrency. Ripple has not yet starting issuing it.
Earlier this year the announcement of plans for the stablecoin raised concerns amongst the XRP community. Wasn’t XRP meant to be an intermediary currency? Wouldn’t a dollar stablecoin replace that functionality?
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