03.07.2025 10:09
Ripple's audacious bid for a national bank charter from the Office of the Comptroller of the Currency (OCC) and a Federal Reserve Master Account is shaking up the cryptocurrency landscape. This strategic move, confirmed by CEO Brad Garlinghouse on X, aims to significantly bolster regulatory compliance and seamlessly integrate Ripple into the core of the US banking system. The application represents a bold step towards solidifying trust and establishing a new precedent for the industry.
This action follows Ripple’s existing New York Department of Financial Services (NYDFS) regulation for its RLUSD stablecoin. Securing both state and federal oversight would create a unique benchmark for trust within the stablecoin market, a point emphatically highlighted by Garlinghouse himself, echoing Ripple's long-held commitment to compliance, as reported by the Wall Street Journal. This proactive approach places Ripple alongside Circle, the issuer of USDC, in actively seeking federal oversight under the newly enacted GENIUS Act.
The GENIUS Act's mandate for OCC regulation of major stablecoin issuers underscores a clear shift towards a future where only regulated entities can flourish within the US digital asset ecosystem. Adding to this significant development, Ripple has also submitted an application for a Master Account with the Federal Reserve, facilitated by Standard Custody, a recent Ripple acquisition. This account would enable Ripple to directly hold RLUSD reserves with the central bank, further strengthening its position and operational efficiency.
Simultaneously, XRP, Ripple's native cryptocurrency, is experiencing a surge in trading activity, with volume spiking by 38.33% and its price approaching a critical resistance level of $2.60, currently trading at $2.28. This market reaction suggests a positive response to Ripple's aggressive regulatory pursuit and potentially signals a significant catalyst for future price appreciation. The confluence of these events paints a compelling picture of Ripple’s ambitious strategy to become a key player in the evolving US digital currency landscape.
