🏦 Ripple requests a national banking charter in the U.S.
According to Reuters, just three days ago Ripple (the company behind XRP and the stablecoin RLUSD) submitted an application to the Office of the Comptroller of the Currency (OCC) for a national banking charter and a master account at the Federal Reserve. This represents a key advancement because:
It allows them to access the Fed's payment systems directly, reducing costs and settlement times.
It strengthens their regulatory legitimacy and institutional trust.
It facilitates backing RLUSD and other activities with clear federal oversight.
This move adds to the recent approval of the GENIUS Act, which establishes a robust regulatory framework for stablecoins.