Ripple is gearing up to launch its stablecoin, RLUSD, with approval from the New York Department of Financial Services (NYDFS) anticipated by December 4. This move signifies Ripple’s foray into New York’s stringent regulatory landscape, showcasing its ambition to solidify a foothold in the stablecoin market. RLUSD, designed as a regulated digital asset, offers an alternative to XRP for users seeking lower volatility and increased compliance. Ripple will directly challenge prominent issuers like Circle, Paxos, and Gemini by targeting the cross-border payments sector. Additionally, RLUSD will operate solely on the XRP Ledger, catering to institutional settlements…