Algorithmic Ratings & Investment Analysis
© ARIA 2025
by aria-ratings.com
July 3, 2025 at 02:51
US Ripple Takes Significant Step Towards Mainstream Finance with Banking License Application
Ripple has made a noteworthy move by applying for a national banking license in the United States through the Office of the Comptroller of the Currency (OCC).
This application aims to bolster regulatory oversight for its RLUSD stablecoin, aligning the organization with growing demands for transparency in the crypto space.
CEO Brad Garlinghouse emphasized that if approved, the license would establish a new benchmark for trust within the stablecoin market, securing both federal and state regulatory compliance.
Receiving this license would enable Ripple to efficiently settle transactions directly, minimizing reliance on traditional banking systems.
This initiative parallels actions by other crypto firms, such as Circle, and comes amid proposed regulatory frameworks like the GENIUS Act.
The GENIUS Act seeks to implement strict standards for stablecoin issuers to ensure they maintain adequate reserves.
In tandem with its banking license application, Ripple is also seeking a Master Account with the Federal Reserve, enhancing security for its RLUSD reserves.
Despite past legal challenges, including a high-profile lawsuit with the SEC, Ripple is now focused on compliance and growth opportunities.
Additionally, Ripple’s partnership with OpenPayd aims to improve cross-border transactions and increase liquidity using its stablecoin.
As Ripple navigates the intersection of cryptocurrency and regulated finance, the success of these initiatives could profoundly impact the stablecoin ecosystem's future.
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