#xrp Ripple Labs is reportedly preparing to launch its new stablecoin, Ripple USD (RLUSD), as early as Dec. 4, pending approval from the New York Department of Financial Services (NYDFS), according to Fox Business.

The approval would mark a significant step for Ripple as it continues to expand its offerings in the digital asset space. RLUSD is expected to integrate seamlessly with Ripple’s existing payment solutions, potentially enhancing its ecosystem with a stable, fiat-backed digital currency.