#Xrp🔥🔥
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Ripple, the company behind XRP, has officially applied to open a real bank in the US. This means it wants to be like the big banks and have a federal license from the US government.
And not only that... Their second company, Standard Custody, has also applied to obtain a primary account with the US Federal Reserve. This account allows them to deal directly with the Federal Reserve without any intermediary bank or hassle.
What's the goal of this?
Even RLUSD (Ripple's stablecoin) will be officially under
US government oversight.
It reduces costs and speeds up transactions.
It will become a competitor to USDT and USDC, but with a license and 100% legality.
What does this mean?
Ripple will be the first crypto company to have an official license as a bank, and this will make investors more confident. The price may rise because people start buying XRP in the hopes that the company will grow even bigger after this step.
Sources and links to the news: Wall Street Journal 1
wsj.com
2 from Reuters
reuters.com
Barron's 3 and from
barrons.com
This isn't just a rumor. Ripple is playing it safe and wants to become an official bank to control the stablecoin market.
And if everything goes as they plan... expect a strong rise in XRP in the future*
But if it's rejected, it will fall
