X user WrathofKahneman, who closely follows Ripple's activities and is recognized in the cryptocurrency community, shared the first public part of the significant application the company made to the U.S. Office of the Comptroller of the Currency (OCC).
According to the statements, Ripple applied for a license to establish a limited-purpose national trust bank.
According to the information in the application, this new structure aims to safeguard Ripple's RLUSD (Ripple USD) reserves and establish a regulated infrastructure for tokenized financial products. The possibility of direct access to the FED in the future is also on the agenda.
According to WrathofKahneman, this initiative does not target individual users. The regulation in question does not apply to banks that do not engage in lending or deposit collection activities and only provide trust-based services, according to the Comprehensive Revision Act (CRA). This indicates that Ripple's new structure will focus exclusively on institutional (B2B) services.
There Are No XRP Details in Ripple’s Application
Another striking detail is the absence of a direct mention of XRP in the application. Analysts state that Ripple is trying to clearly separate XRP from the banking license and aims to prevent confusion within the regulatory framework. However, there is no barrier indicating that XRP integrations are completely excluded in the future.
It was noted in the details of the application that Ripple Labs would own this bank, issue shares specially for executives, and that a large portion of the application would be kept confidential. This confidentiality was interpreted as a sign of a potential initial public offering (IPO) plan.
As a result, Ripple aims to target a national bank license to establish a regulated subsidiary that will manage the tokenization infrastructure.
