Ripple has formally applied for a national banking license in the United States, aiming to expand its USD-pegged RLUSD stablecoin operations and payment offerings.
Securing the federal banking charter would permit Ripple to operate as a regulated financial institution, enabling direct custody of RLUSD reserves alongside broader payment services.
This strategic move seeks to enhance Ripple’s credibility among institutional investors and financial institutions, potentially accelerating RLUSD adoption.
Ripple joins industry counterparts such as Circle and Fidelity Digital Assets in pursuing federal charters to ensure compliance with evolving U.S. regulations, including provisions under the pending GENIUS Act.
Approval by regulators would signify a major federal endorsement of Ripple’s operations and strengthen the Office of the Comptroller of the Currency’s (OCC) influence over cryptocurrency oversight frameworks.
The application reflects Ripple’s post-SEC legal strategy shift towards regulatory compliance and institutional partnership, marking a departure from its earlier disruptive approach to finance.