Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 13286
Markets: 104340
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
America's Social Casino

Market Cap
24h Vol
13286
Cryptocurrencies
64.66%
Bitcoin Share
Crypto Potato 2025-07-03 06:44:40

Major XRP Announcement: Ripple Seeks US Banking License to Boost RLUSD Trust

Major XRP Announcement: Ripple Seeks US Banking License to Boost RLUSD Trust

Ripple Labs is applying for a national banking license as part of efforts to enhance trust in its RLUSD stablecoin. The move comes as other crypto companies also turn to regulation to build credibility. A New Industry Benchmark? Ripple CEO Brad Garlinghouse confirmed on Wednesday via X that the company is applying for a license with the U.S. national bank regulator, the Office of the Comptroller of the Currency (OCC). “True to our long-standing compliance roots, Ripple is applying for a national bank charter from the OCC,” the post read. The executive explained that if approved, the license would place Ripple under both state supervision by the New York Department of Financial Services (NYDFS) and federal oversight. He added that this dual regulatory structure would set a new and unique benchmark for trust in the stablecoin market. Garlinghouse also revealed that Ripple has requested for a Master Account with the Federal Reserve, which would allow the company access to the U.S. central banking system. He said this development would enable Ripple to hold RLUSD reserves directly with the Fed. It also adds an extra layer of security to support long-term trust in the stablecoin. The bid was submitted through Standard Custody, a crypto custody firm acquired by Ripple in February 2024. “Ripple always has and will continue to build trusted, battle-tested and secure infrastructure. In a $250B+ market, RLUSD stands out for putting regulation first, setting the standard that institutions expect,” Garlinghouse said. Circle Applies for National Trust Bank Ripple’s decision came two days after USDC issuer Circle revealed it had submitted an application to the OCC to create a national trust named First National Digital Currency Bank, N.A. The initiative would allow Circle to directly custody the reserves backing USDC instead of only relying on external banking partners. Circle Co-Founder and CEO Jeremy Allaire said the move marks a major step toward creating a transparent, efficient, and accessible internet-based financial system. He added that the company aims to strengthen the infrastructure supporting USDC and align with upcoming U.S. regulations for dollar-pegged stablecoins, which require issuers to keep full dollar reserves and share monthly reports. These developments come as federal legislation known as the GENIUS Act advances. The bill recently passed the Senate but must still advance in the Republican-controlled House before becoming law. The post Major XRP Announcement: Ripple Seeks US Banking License to Boost RLUSD Trust appeared first on CryptoPotato .

Most Read News

Moralis Money
Market Cap
24h Vol
64.66%
Bitcoin Share
0
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.