🇺🇸 Ripple applies for US banking license.

Ripple has applied for a US national banking license with the Office of the Comptroller of the Currency (OCC) to support its RLUSD stablecoin and payment services. This move aims to provide additional financial services, such as growing its stablecoin usage and potentially releasing other crypto-based products under federal oversight.

Details:

- License Application: Ripple submitted its application to the OCC on July 2, 2025, to operate as a federally regulated bank.

- Regulatory Oversight: If approved, Ripple's RLUSD stablecoin would come under OCC supervision, ensuring stricter regulations and enhanced transparency.

- Industry Trend: Other crypto firms like Circle, BitGo, and Coinbase are also pursuing bank-like status, reflecting a growing trend of deeper integration with the US financial system.

Impact:

- Increased Transparency: Dual regulation by the OCC and New York Department of Financial Services would set a new standard for transparency and compliance in the stablecoin market.

- Expanded Services: A national banking license would allow Ripple to self-custody RLUSD reserves and serve as a direct custodian for tokenized assets, including cross-border remittance flows and blockchain-based bonds or securities.#REX-OSPREYSolanaETF $XRP