Ripple Seeks National Bank Charter in US, Potentially Enhancing Regulatory Oversight and Stablecoin Infrastructure

Key Points

1. Ripple's application for a national bank charter would place it under comprehensive federal supervision alongside existing state-level oversight by the NYDFS.

2. RLUSD, Ripple's U.S. dollar-backed stablecoin, has grown to a market capitalization of approximately $470 million since its launch in December 2024.

3. Ripple seeks a Federal Reserve master account through its subsidiary, Standard Custody, to enhance the security and reliability of RLUSD reserves.

4. XRP's price increased by 4% and trading volume surged by 38% to $3.65 billion amid Ripple's regulatory advancements.

5. Ripple's move follows Circle's similar regulatory pursuit for its USDC stablecoin, indicating a trend of crypto firms seeking traditional financial frameworks.