Ripple has received approval from the New York regulator to launch the RLUSD stablecoin. 
RLUSD or "Real USD" linked to the US dollar will be launched on Ripple's own blockchain called XRP Ledger (XRPL), as well as the Ethereum network. The asset is aimed at institutional clients and is designed to compete with Tether's USDT. RLUSD will be linked to the US dollar exchange rate. According to the assurances of Ripple Labs, it is 100% secured in cash and their equivalent. 
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