A prominent New York regulator is reportedly mulling over approving payments platform Ripple Labs' RLUSD stablecoin as soon as next week.

The approval by the New York Department of Financial Services means that Ripple will be allowed to legally offer its stablecoin through a so-called limited purpose trust charter.

Ripple’s RLUSD stablecoin nears NYDFS approval, offering a stable alternative to XRP and positioning Ripple in the regulated stabl

The NYDFS is reportedly poised to approve Ripple Labs’ RLUSD, an overcollateralized stablecoin pegged to the U.S. dollar.

Ripple’s dollar-backed stablecoin, RLUSD, is officially on track for its December 4 debut in New York. The New York Department of Financial Services (NYDFS) is reportedly ready to approve the new product,