Ripple has officially applied for a U.S. national banking license with the Office of the Comptroller of the Currency (OCC), a move that would bring its RLUSD stablecoin under federal oversight and could enable broader crypto services.
CEO Brad Garlinghouse stated this aligns with Ripple’s commitment to compliance, aiming for both state and federal oversight to establish a new benchmark of trust for its stablecoin.
Additionally, Ripple‘s subsidiary, Standard Custody & Trust Company, has sought a Federal Reserve master account, which would allow it to directly hold RLUSD reserves at the central bank.
This action follows similar pursuits by competitors like Circle, Coinbase, and Paxos and comes amid a more crypto-friendly regulatory environment under the new Trump administration, with the OCC now permitting national banks to manage crypto assets.
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