Ripple Seeks National Banking License to Expand Crypto Services
Ripple has applied for a national banking license at the Office of the Comptroller of the Currency (OCC) to expand its crypto services and operate federally across state lines. Key points include:
- The license would enhance Ripple's regulatory framework.
- Ripple issues the RLUSD stablecoin, regulated by the New York Department of Financial Services.
- Ripple offers digital asset custody services.
- XRP, the native cryptocurrency, rose 3% following the news.
- This application follows a similar filing by Circle, indicating a trend among stablecoin companies towards seeking federal oversight as U.S. legislation progresses.
- Crypto custodian Anchorage Digital already holds a federal charter.