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Ripple has applied for a "U.S. banking license," CEO: Once approved, $RLUSD will become the new standard for stablecoins.
Ripple CEO Brad Garlinghouse stated via X that Ripple has submitted a national bank charter application to the OCC (, claiming that once approved, Ripple will simultaneously accept oversight from the New York State Department of Financial Services and federal level regulation, setting a "new and unique benchmark" for the stablecoin market. (Background: Ripple's five-year lawsuit finally ends! Accepting a $125 million fine confirms XRP is not a security, and the SEC will not appeal) (Additional background: Ripple's XRPL EVM sidechains mainnet has officially launched, allowing XRP to pay Gas fees; what are its features?) On July 2, Eastern Time, The Wall Street Journal reported that Ripple has submitted a national bank charter application to the OCC ). Subsequently, Ripple CEO Brad Garlinghouse confirmed this matter via X, stating that once approved, Ripple will be subjected to oversight from both the New York State Department of Financial Services and the federal government, setting a "new and unique benchmark" for trust in the stablecoin market: "True to our long-standing compliance roots, we are applying for a national bank charter from the OCC. If approved, we would have both state oversight via NYDFS and federal oversight, a new and unique benchmark for trust in the stablecoin market." Earlier in the week via… — Brad Garlinghouse (@bgarlinghouse) July 2, 2025 Additionally, Brad Garlinghouse mentioned that Ripple hopes to place its stablecoin RLUSD directly under federal regulatory framework, thereby exempting it from state remittance license procedures while controlling reserve assets. At the same time, the company’s Standard Custody has also applied for a Master Account with The Federal Reserve (FED) (; if successful, it could store RLUSD reserves within the central bank system and gain greater flexibility in digital asset settlement. Earlier this week, through @StandardCustody, we also applied for a Master Account with the FED. As Congress works to establish clear rules and regulations, banks are actively participating, and this account will allow us to hold $RLUSD reserves directly at the FED, providing an additional security guarantee for trust in RLUSD and ensuring its future reliability. Circle takes the lead, Anchorage Digital is currently the only licensed entity It is worth noting that just two days before Ripple's move, USDC issuer Circle also confirmed it has filed to establish First National Digital Currency Bank, N.A., aiming to provide self-management of USDC reserves and institutional-grade custody services. However, Ripple's application is for a traditional national bank charter, which can cover deposits and lending, while Circle is pursuing a national trust bank route; the positioning of the two is not exactly the same. At this stage, Anchorage Digital remains the only digital asset company to obtain a national trust bank charter. Regarding this phenomenon, market analysts generally believe that stablecoin issuers are actively "banking," closely related to the Senate-passed GENIUS Act. This act requires issuing entities to have qualified institutional status, sufficient reserves, and strict capital and liquidity standards. Trump has also expressed his hope for the bill to pass in the House of Representatives soon and to be signed quickly. Related reports: XRP reserves" China commuting merchant Webus receives Ripple Strategy "$100 million credit" to go all in on XRP, WETO stock price jumps 87%; The first "2x XRP leverage" fund launches in the U.S.; Analysts: Approval of Ripple's spot ETF is just a matter of time; Ripple settles with the SEC "recovers $75 million in fines"; experts: signals that XRP spot ETF will be approved. <Ripple applies for a "U.S. bank charter"; CEO: Once approved, $RLUSD will become a new standard for stablecoins.> This article was first published in BlockTempo, the most influential blockchain news media.