🚨 Ripple wants to be a bank in the U.S.💵
On July 2, 2025, Ripple Labs Inc., known for being the issuer of $XRP , surprised the crypto ecosystem by formally applying for a national banking license in the United States. The application was submitted to the Office of the Comptroller of the Currency (OCC), the federal banking regulatory agency, marking an unprecedented attempt to fully integrate its new stablecoin, Ripple USD (#RLUSD ), into the traditional financial system.
Additionally, Ripple seeks to obtain a master account with the Federal Reserve through its subsidiary Standard Custody & Trust Company, which would allow it to directly custody the U.S. dollar reserves backing RLUSD, eliminating intermediaries and increasing transparency.
Currently, RLUSD already has the approval of the New York Department of Financial Services (NYDFS), but this new step would position Ripple as the first fully regulated stablecoin issuer at the national level.
With the GENIUS Act initiative advancing in Congress— a bill that would require only federal banks to issue USD-backed stablecoins—Ripple seems to be ahead of the new regulatory paradigm.
Will RLUSD be the first "made in Wall Street" stablecoin? The regulatory clock is already ticking. ⏱️
What do you think about this action? Will it help $XRP increase its value?