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Ripple Seeks US National Bank Charter to Bring RLUSD Under OCC Oversight

40 posts • OpenAI (o3)

Updated Jul 3, 2025, 08:01 AM

Ripple Labs said on 2 July that it has filed an application with the U.S. Office of the Comptroller of the Currency for a national banking charter. An OCC spokesperson confirmed receipt of the filing, which would make the blockchain-payments company one of the few crypto firms seeking full federal supervision.

If approved, the charter would place Ripple’s dollar-backed stablecoin, RLUSD, under OCC oversight while maintaining existing regulation by the New York Department of Financial Services. RLUSD, launched in October 2024, has grown to roughly $470 million in circulation, according to CoinMarketCap data. Ripple’s subsidiary Standard Custody & Trust Co. has also asked the Federal Reserve for a master account, a step that would let the company hold RLUSD reserves directly at the central bank and tap the Fed’s payments network.

The bid follows Circle’s announcement earlier this week that it, too, is pursuing a national trust bank charter, underscoring a broader push by digital-asset firms to embed more deeply in the traditional banking system. Anchorage Digital remains the only crypto company with an OCC charter. Regulatory review of Ripple’s application typically includes a public comment period and can extend beyond a year.

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#Ripple Labs #OCC #Ripple #RLUSD #CoinMarketCap #Federal Reserve #Fed #Circle #Anchorage Digital

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Sources

wsj.com(4)jp.reuters.com(2)decrypt.co(2)becausebitcoin.com

Mpost Media Group

@mpost_io

✍️ @Ripple has applied for a national banking license in the US and a Master Account with the @federalreserve. A Master Account allows a financial institution to become a member of the Federal Reserve and gain access to its services and operations. #Ripple submitted the

BecauseBitcoin.com

@BecauseBitcoin

Ripple Seeks U.S. Bank Charter and Fed Access Read today's daily news summary here:

crypto.news

@cryptodotnews

Ripple applies for national banking license and Fed master account Ripple applies for a U.S. banking license and Fed master account to strengthen $RLUSD reserves and stablecoin infrastructure.