u.today
San Francisco-based blockchain company Ripple has officially confirmed that the Rippe USD (RLUSD) stablecoin is going to be launched on Dec. 17.
The stablecoin product will appear on leading cryptocurrency trading platforms shortly after its launch.
The list of exchanges will include Bitstamp, according to Ripple's Cassie Craddock.
As reported by U.Today, the much-talked-about stablecoin obtained approval from the New York State Department of Financial Services (NYDFS) last week.
In his statement, Ripple CEO Brad Garlinghouse said that he expects to see broader adoption of stablecoin products. According to Garlinghouse, they offer "real utility."
The XRP token is up a relatively modest 1.5% on the news. The incoming launch of the stablecoin product has been mostly priced in by the market.