Ripple is poised to enter the competitive U.S. stablecoin market with the launch of its new digital asset, Ripple USD (RLUSD), scheduled for December 4, 2024. The anticipated approval from the New York Department of Financial Services (NYDFS) signifies Ripple’s adherence to stringent regulatory standards, enhancing both trust and transparency. RLUSD, pegged 1:1 with the U.S. dollar, promises to offer a stable alternative to volatile cryptocurrencies. Compliance will be reinforced through monthly third-party audits, ensuring full reserve backing. This positions Ripple as a robust contender in a market valued at approximately $200 billion, currently dominated by…