At the Ripple Swell 2024 conference in Miami, Florida, Ripple announced its exchange and market-making partner for its upcoming dollar-pegged stablecoin, RLUSD. The company also added former Federal Deposit Insurance Corporation (FDIC) chair Sheila Bair and former CEO of Centre, a consortium that sets standards for USD Coin (USDC), to its stablecoin advisory board. Monica Long, president of Ripple Labs, said the company was awaiting approval from New York Department of Financial Services regulators to launch RLUSD publicly. "From our perspective, we are ready to operate."