🚀 Ripple $XRP Joins Banking Race! Seeks US License for Crypto Growth 🇺🇸
Big news! Following Circle's lead, Ripple has officially applied for a US national banking license! This major step was reported by The Wall Street Journal.
If approved by US regulators (OCC), this license would:
✅ Place Ripple's upcoming stablecoin, RLUSD, under both state AND federal oversight – boosting trust! 💪
✅ Allow Ripple $XRP to explore offering even more crypto services through its bank charter.
✅ Potentially let Ripple hold RLUSD reserves directly with the Federal Reserve (they've also applied for this!).
This comes just after Circle also applied for a similar national banking license! 🤝
Why it matters:
These moves signal growing crypto integration into the traditional financial system!
A more favorable regulatory environment under the current US administration is helping pave the way.
National banks are increasingly being allowed to handle crypto, showing real progress for the industry! 📈