According to FOXBusiness, the New York Department of Financial Services (NYDFS), the highest cryptocurrency regulatory agency in New York, is about to approve a new stablecoin, RLUSD, issued by cross-border payment company Ripple. According to informed sources, the New York Department of Financial Services has informed Ripple that it will approve the product, and the company plans to launch the product on December 4th. If approved, Ripple will be able to legally offer RLUSD to the public, making it a major player in the regulated digital finance market and broader stablecoin ecosystem in New York. This move will also put Ripple in direct competition with other well-known US stablecoin issuers such as Circle, Paxos, and Gemini. @oyinda94