🔍 Curious Move: RIPPLE LABS APPLIES FOR U.S. BANKING LICENSE TO BOOST STABLECOIN TRUST 🚀

🏦 Ripple Labs has officially applied for a national banking license with the U.S. Office of the Comptroller of the Currency (OCC), aiming to operate under federal regulation.

📢 CEO Brad Garlinghouse confirmed the application, calling it a “new benchmark for trust in the stablecoin market.”

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🔒 Ripple’s RLUSD stablecoin is already regulated by New York’s Department of Financial Services; the banking license would add federal oversight for extra security.

💳 Ripple also seeks a Federal Reserve Master Account, allowing it to hold RLUSD reserves directly with the Fed and settle transactions 24/7.

⚡ This follows Circle Internet Group’s similar move, showing a trend of crypto firms seeking stronger ties with traditional finance and clearer regulations.

📜 The recent GENIUS Act names the OCC as the main regulator for large stablecoin issuers, supporting Ripple’s licensing efforts.

📈 XRP token rose 3% after the news, reflecting positive market confidence.