Ripple is gearing up to launch its new stablecoin, Ripple USD (RLUSD), pegged to the US dollar, on December 4. The launch follows approval from the New York Department of Financial Services. RLUSD, backed 1:1 by US dollar deposits and short-term US Treasurys, will initially be available on Ripple's XRPL and Ethereum. Ripple aims to expand RLUSD to other blockchains and DeFi protocols. The stablecoin is designed to complement Ripple's XRP, enhancing liquidity and stability. Targeting institutional players, RLUSD is seen as a compliant option in the stablecoin market.