Bitcoin 
Ethereum 
Tether 
BNB 
Solana 
XRP 
USDC 
Lido Staked Ether 
Cardano 
Avalanche 
Ripple banking license efforts are taking center stage as the crypto giant seeks deeper ties with traditional finance.
Ripple Labs, the firm behind the XRP Ledger and the RLUSD stablecoin, is applying for a banking license from the Office of the Comptroller of the Currency (OCC). CEO Brad Garlinghouse confirmed the move on X, highlighting Ripple’s commitment to long-term compliance. This bold step could position Ripple as one of the most trusted players in the stablecoin arena.
If approved, the Ripple banking license would subject the company to both federal and state regulations. It would also reinforce trust in Ripple’s RLUSD stablecoin, already under the supervision of the New York Department of Financial Services. This decision aligns Ripple with other major players like Circle, which recently filed for a similar bank charter.
Ripple banking license could redefine stablecoin regulation
Circle’s USDC application and Ripple’s move come after the U.S. Senate passed the GENIUS Act. This law sets clear rules for stablecoins and puts major issuers under OCC oversight. Ripple’s initiative places it ahead in adapting to a regulated crypto environment.
Notably, Anchorage Digital remains the only crypto firm with a national bank charter. Ripple aims to change that, opening new doors for how digital currencies interact with the banking world. The goal is not just compliance but also enhanced credibility, especially as regulatory scrutiny around digital assets intensifies.
ANOTHER MUST-READ ON ICN.LIVE:
Coinbase’s Liquifi acquisition enhances token management and launch capabilities
Ripple aims for a Fed Master Account to secure RLUSD reserves
Beyond the Ripple banking license, the company also applied for a Federal Reserve Master Account. This would let Ripple hold RLUSD reserves directly with the U.S. central bank. It’s a rare move that could add unprecedented security and transparency for stablecoin holders.
Garlinghouse emphasized that this access would “future-proof trust” in RLUSD. The application was filed through Standard Custody, a crypto custody platform Ripple acquired in early 2024. The strategy shows Ripple’s intent to anchor its stablecoin operations deeply into the U.S. financial system.
XRP surges following Ripple’s licensing move
News of the Ripple banking license has already impacted the market. XRP, the token tied to Ripple’s network, surged over 3% in 24 hours. It reached a high of $2.27 before stabilizing around $2.24. Traders see Ripple’s regulatory alignment as a bullish signal.
The move also fuels broader optimism in crypto’s push for legitimacy. Ripple’s initiative shows that crypto firms are no longer skirting regulation—they’re embracing it. And with that, the future of regulated, stable, and secure digital finance seems more achievable than ever.
