Techub News reports that Ripple has submitted a national bank charter application to the Office of the Comptroller of the Currency (OCC), according to The Wall Street Journal. RLUSD is currently regulated by the New York State Department of Financial Services (NYDFS). A national trust bank charter would also bring RLUSD under OCC's regulatory oversight. If approved, Ripple will achieve dual state and federal oversight of the stablecoin RLUSD. Additionally, its subsidiary Standard Custody has applied for a Federal Reserve master account, intending to directly custody RLUSD reserves. If approved, this account will allow Ripple to directly hold reserves at the Federal Reserve and issue and redeem the stablecoin outside of regular banking hours.