Ripple has applied for a banking license in the United States to comply with the requirements of the stablecoin bill, in order to strengthen its position in the cryptocurrency market competition.
This helps Ripple enhance security and develop the RLUSD stablecoin linked to the XRP Ledger Blockchain in the context of competitors like Circle also applying for similar licenses.
MAIN CONTENT
Ripple has registered for a banking license with the OCC and applied for a Fed Master account to enhance the security of the RLUSD stablecoin.
The GENIUS Act requires stablecoin issuing organizations to have a banking or credit union license in the United States.
The positive market reaction helped the price of XRP rise to $2.30, with a mid-term target expectation of $2.60.
What has Ripple done in the context of the stablecoin race in the United States?
Ripple CEO Brad Garlinghouse confirmed that the company has applied for a banking license and opened a Fed Master account to ensure that RLUSD reserves are held directly at the U.S. Central Bank, thereby enhancing the safety and trust for the RLUSD stablecoin.
This reflects Ripple's thorough preparation to adapt to the new regulations under the GENIUS Act, while maintaining competitive positioning against competitors like Circle.
"The Fed Master account will allow us to hold RLUSD reserves directly with the Fed, adding an extra layer of security to protect trust in RLUSD."
Brad Garlinghouse, CEO of Ripple, July 2025, Twitter/X
How does the GENIUS Act affect stablecoin issuance in the U.S.?
The GENIUS Act, recently passed by the Senate, stipulates that stablecoin issuers must be licensed banks, credit unions, or certified non-bank organizations in the United States.
This requirement aims to increase transparency and risk control in the stablecoin market while promoting deeper integration between cryptocurrencies and the traditional financial system.
"Establishing a national digital trust bank marks an important step towards building a transparent, efficient, and accessible Internet financial system."
Jeremy Allaire, CEO of Circle, June 2025, Business Wire
Where are Ripple's competitors in this race?
Alongside Ripple and Circle, several other stablecoin issuers such as Erebor and Wise have also applied for similar licenses. However, currently, only Paxos and Anchorage Digital Bank have been approved.
Caitlin Long, CEO of Custodian Bank, stated that most applications are to establish trust organizations rather than official banks.
Feedback from financial experts on Ripple's banking license application
While John Deaton, a former lawyer, assesses that Ripple will soon become a bank providing cryptocurrency financial services such as secured lending and mortgages, Arthur Hayes, founder of BitMEX, opposes this view, arguing that cryptocurrency companies are unlikely to compete with traditional banks.
"If a cryptocurrency company becomes a bank, it means it must comply with strict regulations and the government will have control. You can't beat JPMorgan at their own game."
Arthur Hayes, Founder of BitMEX, July 2025, Medium
What is the impact of applying for a banking license on XRP price?
The news of Ripple applying for a banking license has created strong buying momentum, helping the price of XRP rise to $2.30, reaching a peak in the past two months and nearing a mid-term target of $2.60 if the positive trend continues.
Market sentiment tracking data from Santiment shows that the sentiment index of XRP has increased significantly, reflecting investor confidence in this legal move.
Source: Santiment
Frequently Asked Questions
Why does Ripple need a banking license in the U.S.? The license helps Ripple comply with the GENIUS Act and keep RLUSD stablecoin reserves safe at the Fed, enhancing investor trust. How does the GENIUS Act affect the stablecoin market? The bill requires stablecoin issuers to have a banking license to increase transparency and financial risk control. Which stablecoin issuers have been granted banking licenses? Currently, Paxos and Anchorage Digital Bank have received license approvals in the U.S. What new financial services can Ripple offer when it becomes a bank? Ripple could implement secured lending, cryptocurrency-backed mortgages, and similar financial services. How did XRP's price fluctuate after this information? XRP's price rose to $2.30, reflecting the market's positive reaction to Ripple's new legal move.
Source: https://tintucbitcoin.com/ripple-xin-giay-phep-ngan-hang-my-2/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news about the cryptocurrency market and not miss any important information!
