Ripple Seeks National Bank Charter in US, Potentially Enhancing Regulatory Oversight and Stablecoin Infrastructure

• Ripple’s strategic move to obtain a national banking charter marks a significant milestone in the regulatory landscape for stablecoins in the United States.

• The application to the Office of the Comptroller of the Currency (OCC) signals Ripple’s intent to operate under both federal and state oversight, enhancing trust and compliance in the crypto sector.

• According to Ripple CEO Brad Garlinghouse, this dual regulatory framework would set a new standard for transparency and security in the stablecoin market, particularly for Ripple’s RLUSD token.

Ripple pursues a national bank charter to strengthen regulatory compliance and expand its stablecoin RLUSD, aiming for enhanced security and direct Federal Reserve access.

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Ripple’s National Bank Charter Application: A Game-Changer for Stablecoin Regulation

Ripple’s formal application for a national bank charter with the OCC represents a pivotal development in the evolving regulatory environment for cryptocurrencies. This move would place Ripple under comprehensive federal supervision alongside existing state-level oversight by the New York Department of Financial Services (NYDFS). The dual regulatory framework is designed to foster greater confidence among investors and users by ensuring rigorous compliance standards.

By securing a national charter, Ripple aims to solidify its position in the stablecoin market, particularly through its U.S. dollar-backed RLUSD token. Launched in December 2024, RLUSD has steadily grown to a market capitalization of approximately $470 million, according to DefiLlama. Although still smaller than industry leaders like Tether (USDT) and Circle’s USD Coin (USDC), RLUSD’s growth trajectory underscores Ripple’s commitment to expanding its footprint in the stablecoin ecosystem.

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Federal Reserve Master Account: Enhancing Settlement and Security

In addition to the charter application, Ripple has applied for a Federal Reserve master account through its subsidiary, Standard Custody. This account would enable Ripple to hold RLUSD reserves directly with the U.S. central bank, eliminating the need for intermediary banks and streamlining settlement processes. Such direct access to the Fed’s payment rails could significantly enhance the security and reliability of RLUSD backing, setting Ripple apart from many other stablecoin issuers.

This development aligns with the broader regulatory trend prompted by the GENIUS Act, a federal bill passed by the Senate in May 2025. The legislation aims to establish clear regulatory standards for stablecoin issuers, with the OCC designated as the primary supervisor for larger dollar-pegged tokens. Ripple’s proactive approach positions it well to comply with these forthcoming regulations, potentially giving it a competitive advantage.

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Market Impact and Investor Sentiment Amid Regulatory Advances

Ripple’s regulatory initiatives have been met with increased market interest. XRP, Ripple’s native token, experienced a 4% price increase over the past 24 hours, accompanied by a 38% surge in trading volume to $3.65 billion. This heightened activity reflects growing investor confidence as Ripple advances its regulatory strategy.

On the derivatives front, data from Coinglass reveals an 8% rise in open interest to $4.5 billion and a 29% increase in XRP futures volume, reaching $7.38 billion. These metrics indicate robust market engagement and suggest that traders are closely monitoring Ripple’s progress in securing federal oversight.

Comparative Industry Moves: Circle’s National Trust Bank Application

Ripple’s application follows a similar regulatory pursuit by Circle, the issuer of USD Coin (USDC), which recently filed to establish a national trust bank. Both companies are aligning their strategies with anticipated regulatory frameworks to ensure compliance and operational stability. This trend highlights a broader industry shift towards formal banking structures to meet evolving federal requirements.

Such initiatives are expected to enhance transparency and reduce systemic risks associated with stablecoins, thereby fostering greater adoption and integration within traditional financial systems.

Conclusion

Ripple’s pursuit of a national banking charter and Federal Reserve master account represents a forward-thinking approach to regulatory compliance in the stablecoin sector. By seeking dual oversight and direct access to central bank infrastructure, Ripple aims to enhance the security, transparency, and trustworthiness of its RLUSD token. These developments not only position Ripple as a leader in regulatory adherence but also reflect a broader industry movement towards institutional-grade stability and governance. Investors and market participants should closely watch Ripple’s regulatory progress as it may set new benchmarks for stablecoin issuers nationwide.