🏦@Ripple has applied for a US banking license, joining a trend among crypto firms seeking to bridge the gap between traditional finance and the digital currency space.
The stakes are high, said @syrupsid, co-founder and CEO of DeFi asset manager Maple Finance.
“If Ripple were to secure both a banking license and a Federal Reserve Master Account, it would mark a significant milestone in the convergence of crypto and traditional finance,” he told The Defiant, adding:
“These two components would give Ripple direct access to the U.S. payments system, bypassing correspondent banking layers and enabling near-instant settlement at the central bank level, something no crypto-native company has achieved to date.”
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