Ripple approves issuance of stablecoin ”RLUSD”…XRP temporarily surges 10%

Ripple is soaring after U.S. financial regulators approved a stablecoin (a coin with a stable price) issued by the company.
On the 10th (local time), the New York State Department of Financial Services (NYDFS) announced that it had approved Ripple’s stablecoin.
The issuance of the coin "RLUSD" has been approved. As a result, "RLUSD" is expected to be officially launched on the market in the near future.
Ripple CEO Brad Garlinghouse said he was "very pleased" with X (formerly Twitter).
"We have received final approval for RLUSD. The exchange and partner list will be released soon," the company said.
Ripple announced in April that it would enter the stablecoin market and has been promoting related businesses.
Stablecoins are a core infrastructure of the cryptocurrency economy, allowing cryptocurrency investors to purchase other cryptocurrencies through them.
Currently, the stablecoin market is dominated by Tether (USDT) and Circle (USDC). Tether, in particular, is the third largest cryptocurrency by market capitalization.
With this news, Ripple has surged 6.55% to $2.39 (about 362 yen) on CoinMarketCap as of 8:30 a.m. on the 11th.
At one point it soared by more than 0%.