Ripple’s Bold Move Toward Banking: What a National License Could Mean for the Crypto Future

Ripple has submitted a formal request to the Office of the Comptroller of the Currency for a US national banking license. This represents a significant step forward for the organization. This step is more than simply following the rules; it represents a significant shift in how blockchain enterprises interact with traditional financial systems.   Brad Garlinghouse, the CEO, made the announcement via X (formerly Twitter). This demonstrates Ripple’s ambition of creating a “trusted and secure” infrastructure in the rapidly growing $250 billion stablecoin market.

If approved, Ripple will be one of the first cryptocurrency-based enterprises to be regulated by both the federal government and the New York Department of Financial Services. This new dual compliance structure is a first, especially as the crypto industry expands and institutional demand for clear standards develops.

Ripple’s RLUSD stablecoin, which is 1:1 backed by the US dollar and is estimated to be worth $469 million, has already caused ripples. The company’s most recent request for a Federal Reserve master account contributes to its ambitions. This could imply that RLUSD reserves could be held directly with the Fed, which would be a significant step forward for crypto-backed lending.

Ripple’s partnership with OpenPayd will facilitate cross-border payments in Europe and the United Kingdom by mixing fiat currencies such as the Euro and Pound Sterling. This will increase Ripple’s momentum. Ripple is currently a prominent player in the convergence of digital assets and global finance as a result of this relationship.

Ripple’s strategic decisions demonstrate that it is not simply following the rules; it is also helping to create them as XRP gains technical strength in the market.

Also read: XRP Price Cannot Break Higher Despite Strong Institutional Demand and Derivatives Momentum