Ripple has taken a major step toward federal banking regulation, submitting an application to the OCC for a national bank charter.
Approval would place the firm under dual supervision—combining its existing NYDFS oversight with federal compliance requirements.
This move ensures that Ripple’s upcoming RLUSD stablecoin falls under OCC scrutiny, reinforcing transparency in reserves and operations. The firm may also explore additional crypto banking services, pending approval.
The filing follows Ripple subsidiary Standard Custody & Trust Company’s bid for a Federal Reserve master account, which would streamline reserve management. With Circle also pursuing a national charter, the trend highlights crypto’s shift toward full banking integration.
