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Ripple Eyes Federal Banking Status as Crypto Regulation Tightens
Ripple’s move to secure federal banking status signals a strategic push for institutional legitimacy and deeper financial integration. In the short-term, XRP gains show investor optimism, but long-term implications depend on regulatory progress and adoption by U.S. banks.
Following previous coverage by Crypto News Flash (CNF) on Ripple eyeing 14% of SWIFT’s trillions for XRPL, Ripple Labs, the payment company employing blockchain technology behind XRP and the RLUSD stablecoin, has taken a significant step toward registering with the traditional financial system by requesting a national bank charter from the U.S. Office of the Comptroller of the Currency (OCC).
The confirmation of this move via CEO Brad Garlinghouse’s post on X and reported by Reuters and WSJ marks one of the first instances where a crypto-native company positions itself as a federally regulated bank, joining Circle and Anchorage Digital in their pursuit of mainstream legitimacy.
In an earlier tweet, Ripple revealed that its unit, Standard Custody & Trust, has also applied for a Federal Reserve Master Account. This would enable it to hold reserves directly at the Fed, providing an additional layer of security for future-proof trust in RLUSD.
As stated in the article, Ripple’s pursuit of federal banking status and a Federal Reserve Master Account already has a positive impact on XRP’s market performance, with the cryptocurrency rising over 3% after the announcement.
Source: www.crypto-news-flash.com
