$XRP Issuer Ripple Files for U.S. Banking License After Circle Move
Ripple submitted its national banking charter application to the Office of the Comptroller of the Currency (OCC) on Wednesday.
The license would place federal oversight on Ripple's #RLUSD stablecoin through OCC regulation.
CEO Brad Garlinghouse confirmed the company would gain both state and federal oversight, creating what he calls a "unique benchmark for trust" in stablecoins.
Ripple's subsidiary Standard Custody & Trust also applied for a Federal Reserve master account this week.
The master account would allow direct central bank storage of #RLUSD reserves.
#Circle filed its own national banking license application with the OCC on Monday.
Both moves come as the Trump administration creates friendlier crypto regulations.
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