{"id":25076,"date":"2025-07-03T10:29:48","date_gmt":"2025-07-03T07:29:48","guid":{"rendered":"https:\/\/forklog.com\/en\/ripple-seeks-u-s-banking-license\/"},"modified":"2025-07-03T10:29:48","modified_gmt":"2025-07-03T07:29:48","slug":"ripple-seeks-u-s-banking-license","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ripple-seeks-u-s-banking-license\/","title":{"rendered":"Ripple Seeks U.S. Banking License"},"content":{"rendered":"<p>Ripple has applied for a national bank license with the U.S. Office of the Comptroller of the Currency (OCC). This information was confirmed by the company&#8217;s CEO, Brad Garlinghouse.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">True to our long-standing compliance roots, <a href=\"https:\/\/twitter.com\/Ripple?ref_src=twsrc%5Etfw\">@Ripple<\/a> is applying for a national bank charter from the OCC. If approved, we would have both state (via NYDFS) and federal oversight, a new (and unique!) benchmark for trust in the stablecoin market.<\/p>\n<p>Earlier in the week via\u2026 <a href=\"https:\/\/t.co\/IdiR7x3eWZ\">https:\/\/t.co\/IdiR7x3eWZ<\/a><\/p>\n<p>\u2014 Brad Garlinghouse (@bgarlinghouse) <a href=\"https:\/\/twitter.com\/bgarlinghouse\/status\/1940454339207667941?ref_src=twsrc%5Etfw\">July 2, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to Garlinghouse, the initiative will set a &#8220;new benchmark for trust in the stablecoin market.&#8221; If approved, Ripple&#8217;s stablecoin, Ripple USD (RLUSD), will fall under both federal jurisdiction and state oversight.<\/p>\n<p>Ripple follows the example of Circle, the issuer of the stablecoin USDC, which also <a href=\"https:\/\/forklog.com\/en\/news\/circle-seeks-u-s-trust-bank-license\">applied<\/a> to the OCC for the creation of a national trust bank. <\/p>\n<p>Both applications have been filed against the backdrop of the U.S. Senate&#8217;s passage of the <a href=\"https:\/\/forklog.com\/en\/news\/us-senate-advances-bipartisan-stablecoin-regulation-bill\">GENIUS Act<\/a>, which sets standards for organizations issuing &#8220;stablecoins.&#8221;<\/p>\n<p>Garlinghouse also announced the application for a master account with the U.S. Federal Reserve System (FRS). This would allow Ripple to hold RLUSD reserves directly with the FRS. <\/p>\n<p>The documents were submitted through the custodial firm Standard Custody, which Ripple acquired in February 2024.<\/p>\n<p>The native token XRP responded to the news with an increase. At the time of writing, the asset is trading at $2.24 (+3.8% for the day), according to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/xrp\">CoinGecko<\/a>.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"565\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/XRPUSD_2025-07-03_10-23-44-1024x565.png\" alt=\"XRPUSD_2025-07-03_10-23-44\" class=\"wp-image-261355\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/XRPUSD_2025-07-03_10-23-44-1024x565.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/XRPUSD_2025-07-03_10-23-44-300x165.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/XRPUSD_2025-07-03_10-23-44-768x424.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/XRPUSD_2025-07-03_10-23-44.png 1438w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Daily chart of XRP\/USD on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/chart\/?symbol=BINANCE%3AXRPUSD\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Back in April 2025, Ripple acquired the crypto broker <a href=\"https:\/\/forklog.com\/en\/news\/ripple-acquires-prime-broker-hidden-road-for-1-25-billion\">Hidden Road<\/a> for $1.25 billion.<\/p>\n<p>In June, the company&#8217;s CTO, David Schwartz, <a href=\"https:\/\/forklog.com\/en\/news\/ripple-to-enhance-xrp-ledger-with-ethereum-like-features\">stated<\/a> that the mergers and acquisitions department is &#8220;very busy and has several potential deals at various stages.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ripple has applied for a national bank license with the U.S. Office of the Comptroller of the Currency (OCC). This information was confirmed by the company&#8217;s CEO, Brad Garlinghouse. True to our long-standing compliance roots, @Ripple is applying for a national bank charter from the OCC. If approved, we would have both state (via NYDFS) [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":25075,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229,112,26],"class_list":["post-25076","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-ripple","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"71","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/25076","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=25076"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/25076\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/25075"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=25076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=25076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=25076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}