Ripple’s anticipated USD-backed stablecoin, RLUSD, will not be launching as previously speculated, the company confirmed in a statement. Ripple emphasized that the launch remains subject to final approval from the New York Department of Financial Services (NYDFS) and reiterated its commitment to meeting rigorous regulatory standards.

Ripple, a provider of digital asset infrastructure for financial institutions, had announced RLUSD in October 2024 as an enterprise-grade stablecoin designed for global distribution. 

In its latest statement, Ripple assured stakeholders of its compliance-focused approach:

“We’re in lockstep with the NYDFS on final approval and will share updates as soon as possible. We are fully committed to launching under the supervision of NYDFS and upholding the highest regulatory standards,” the company said.

The statement follows months of anticipation from industry stakeholders, with RLUSD poised to address financial use cases such as payments, asset tokenization, and decentralized finance (DeFi).

According to its press release, RLUSD is designed to combine the stability of the US dollar with the efficiency of blockchain technology. It will be backed by U.S. dollar deposits, government bonds, and cash equivalents, with third-party audited monthly attestations ensuring transparency.

Initially, RLUSD will be supported on the XRP Ledger and Ethereum blockchain, enabling real-time settlement, decentralized trading, and integration into Ripple’s cross-border payment solutions. Major exchanges and liquidity providers, including Uphold, Bitstamp, and B2C2, have already pledged to support RLUSD once it becomes available.

While the delay may dampen some expectations, Ripple’s approach signals a cautious and regulatory-first strategy, aligning with NYDFS standards. The company has not provided a specific timeline for RLUSD’s launch but promised updates as progress continues.

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