by aria-ratings.com
July 3, 2025 at 08:30
US Ripple Moves Toward Traditional Banking with License Application
Ripple has made headlines by applying for a national banking license from the U.S. Office of the Comptroller of the Currency (OCC).
This move could enable Ripple to operate similarly to a traditional bank, adhering to federal banking regulations.
The application comes on the heels of Ripple's newly launched RLUSD stablecoin, which currently boasts a market cap of $440 million.
CEO Brad Garlinghouse noted that obtaining this license would set a new benchmark for trust in the stablecoin market, ensuring compliance at both state and federal levels.
This initiative is part of a broader trend, as other cryptocurrency firms like Circle are also pursuing national banking charters.
Ripple's efforts aim to enhance regulatory oversight and transparency, particularly for its RLUSD stablecoin.
Moreover, the company is concurrently seeking a Master Account with the Federal Reserve, aiming to bolster security for its reserves.
Despite previous legal hurdles, including an ongoing lawsuit with the SEC, Ripple is pivoting toward compliance and growth.
The company’s partnership with OpenPayd further supports its goal of facilitating cross-border transactions using the stablecoin.
Overall, Ripple's strategic moves could significantly reshape the stablecoin landscape and strengthen its standing in the crypto-finance ecosystem.
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