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Ripple Applies for US Banking License – Could Federal Oversight Supercharge Its Stablecoin RLUSD?

2025-07-02 23:28:40

Ripple Applies for US Banking License – Could Federal Oversight Supercharge Its Stablecoin RLUSD?

Main Idea

Ripple has applied for a U.S. national banking license with the OCC, aiming to bring its stablecoin RLUSD under federal oversight, while facing regulatory challenges from the SEC.

Key Points

1. Ripple filed for a national banking license with the OCC, seeking federal oversight for its stablecoin RLUSD, which currently has a market cap of around $470 million.

2. CEO Brad Garlinghouse stated that approval would provide both state (via NYDFS) and federal oversight, enhancing trust in RLUSD.

3. The GENIUS Act, recently passed by the Senate, could provide clearer regulatory guidelines for stablecoins, potentially benefiting RLUSD adoption.

4. Judge Analisa Torres rejected Ripple's proposed $50 million settlement with the SEC, maintaining an injunction on institutional XRP sales.

5. Ripple is focusing on technological upgrades, including XRP Ledger v2.5.0, to enhance interoperability ahead of RLUSD's broader rollout.

Description

Ripple has filed an application for a national banking license with the U.S. Office of the Comptroller of the Currency (OCC), according to a report by The Wall Street Journal. The move indicates Ripple’s intention to bring its dollar-backed stablecoin, RLUSD, under federal supervision and expand its crypto-related financial services in the United States. Ripple Seeks OCC Charter in Bid to Become a Federally Regulated Stablecoin Issuer The filing was made on Wednesday and, if approved, would plac...

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