Ripple Labs is on the verge of launching its RLUSD stablecoin, with approval from the New York Department of Financial Services expected soon, according to Fox Business. The dollar-pegged stablecoin could debut as early as December 4. Ripple aims to use RLUSD alongside XRP to enhance its cross-border payment solutions, addressing demand for stablecoins that offer trust and stability.

Despite concerns from XRP holders about a potential shift in focus, Ripple has not confirmed any plans to abandon XRP. The company continues to emphasize its commitment to regulatory compliance and transparency, promising regular audits and reports on RLUSD's collateral reserves. Ripple has also secured partnerships with exchanges like Uphold and Bitstamp to support RLUSD's rollout.