Blockchain payments firm Ripple is pursuing a U.S. national banking charter to shift regulatory oversight of its RLUSD stablecoin from state to federal jurisdiction.
The application to the Office of the Comptroller of the Currency (OCC) aims to replace RLUSD’s current supervision by the New York Department of Financial Services, which restricts operational flexibility across state lines.
Transitioning to federal oversight would bolster regulatory clarity and strengthen investor confidence in RLUSD through standardized compliance requirements.
This initiative aligns with accelerating global trends integrating cryptocurrency operations with established banking governance frameworks.
Industry analysts suggest Ripple’s strategy may establish benchmarks for crypto regulatory compliance while expanding its cryptocurrency-based financial products to broader markets.