By John Meyer, consultant in financial affairs – Eurasia Business News, July 2, 2025. Article no. 1593.

Ripple has officially applied for a national banking license from the U.S. Office of the Comptroller of the Currency (OCC), marking a significant step in its effort to expand crypto financial services under federal regulation.

The license would allow Ripple to operate more like a traditional bank, subject to federal banking regulations, and hold its stablecoin reserves—specifically its dollar-backed stablecoin, Ripple USD (RLUSD)—on its own balance sheet.

RLUSD, launched in December 2024, currently has a market cap of about $440 million and is regulated at the state level by the New York Department of Financial Services. A national charter would place RLUSD under direct federal oversight, enhancing transparency and compliance.

Ripple’s move follows similar applications by other crypto firms such as Circle (issuer of USDC), Coinbase, and Paxos, reflecting a broader trend of cryptocurrency companies seeking to bridge digital assets with traditional finance amid evolving U.S. regulatory frameworks.

Obtaining a national bank charter would enable Ripple to expand its crypto services, operate across state lines, and build institutional trust by complying with both state and federal regulations.

Anchorage Digital remains the only crypto firm to have secured such a federal bank charter so far, highlighting the complexity and rigor of this regulatory path.

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Ripple CEO Brad Garlinghouse has emphasized the company’s commitment to compliance and sees the dual state and federal oversight as setting a new benchmark for trust in the stablecoin market.

Ripple’s application for a U.S. national banking license aims to bring its stablecoin RLUSD and broader crypto services under federal regulation, positioning the company to deepen integration with mainstream financial systems and enhance regulatory compliance in the evolving digital asset landscape.

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© Copyright 2025 – Eurasia Business News. Article no. 1593.