Blockchain payments firm Ripple has filed formal applications for a U.S. bank charter with the Office of the Comptroller of the Currency and the New York Department of Financial Services. This initiative aims to anchor its RLUSD stablecoin operations within a federally regulated banking framework.
Simultaneously, the company is pursuing a Federal Reserve master account through its subsidiary Standard Custody. This strategic move would grant Ripple direct access to the Fed’s payment rails, significantly enhancing transaction efficiency and reserve management capabilities for its dollar-pegged RLUSD.
The RLUSD stablecoin has demonstrated substantial market adoption since its October 2024 debut, now commanding a $470 million market capitalization. Ripple’s institutional-first approach targets enterprise-level applications including cross-border settlements and treasury management solutions.
These developments triggered immediate market optimism, propelling XRP’s price above the $2.20 threshold. This surge reflects investor confidence in Ripple’s efforts to position its ecosystem at the intersection of digital assets and traditional finance.
Industry analysts observe that Ripple’s regulatory roadmap could establish critical precedents for stablecoin integration within national banking systems. The dual-track approach of pursuing both a banking charter and Fed access represents a comprehensive strategy for regulatory compliance while improving transaction infrastructure.