Ripple Joins Race for Federal Banking Charter Amid Stablecoin Push

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Ripple has officially applied for a national banking license with the OCC, positioning itself for stricter regulatory oversight and expanded financial services.

Approval would subject Ripple to federal supervision, adding to its existing NYDFS-regulated operations—a dual-layer framework CEO Brad Garlinghouse calls a “unique benchmark for trust” in stablecoins.

The license would formalize the OCC’s oversight of Ripple’s RLUSD stablecoin and open doors to broader crypto banking services. The move aligns with Ripple’s recent push for a Fed master account through its subsidiary, Standard Custody & Trust Company, which would allow direct central bank reserve holdings.

This follows Circle’s similar application, signaling a growing trend of crypto firms seeking full banking status to enhance credibility and operational flexibility.