#Ripple $XRP Apply for Banking License in the US, Ready to Expand Financial Services

Ripple has reportedly applied for a banking license in the United States. This information was first shared by Watcher.Guru through its social media account, describing the move as a significant development for the blockchain company. If approved, the banking license would open opportunities for Ripple to expand financial services directly, including digital asset storage, cross-border payment services, and the potential for other banking products that are more integrated with traditional financial systems.

Ripple's move is also seen as a strategy to strengthen operational legitimacy amid the tight scrutiny of US regulators on crypto companies. The banking license application is expected to help Ripple ease relations with traditional financial institutions while increasing user trust in their services. As of now, there has been no further official statement from Ripple regarding the details of the application or the timeline for the license approval process.