According to FOX Business, the New York Department of Financial Services (NYDFS) is expected to approve Ripple's issuance of its stablecoin RLUSD. If ultimately approved, Ripple plans to officially launch RLUSD on December 4, aiming to meet customer demand for low-volatility digital currencies while further promoting the development of cross-border payments and remittance transactions. Previously, Ripple also established the RLUSD Advisory Council, which includes former Federal Deposit Insurance Corporation (FDIC) Chair Sheila Bair, former JPMorgan executive David Puth, and Ripple co-founder and Executive Chairman Chris Larsen.