๐จ Ripple Applies for National Bank License! ๐ฆโจ
Ripple, the company behind the RLUSD stablecoin and cross-border payment solutions, has officially applied for a national bank license with the Office of the Comptroller of the Currency (OCC) in the US! ๐บ๐ธ
๐ Currently, RLUSD is supervised by the New York Department of Financial Services. If approved, Ripple will be under OCC's supervision โ a significant step towards transparency & compliance in the stablecoin market. ๐ผ๐
๐ฃ๏ธ "This dual regulation could be the new standard for stablecoins," โ Jack McDonald, SVP of Ripple Stablecoin.
๐ก With this license, Ripple is also opening up opportunities to offer other crypto services directly from the national banking system. ๐๐
Is this the first step towards integrating crypto into the traditional financial system?
