Ripple Plans to Enter the US Banking Market
Date: 2025-07-03 Author: Henry Casey Categories: BUSINESS
Ripple has officially filed documents to obtain national bank status with the US OCC. This information was confirmed by Brad Garlinghouse, the company's CEO, noting that such a move will increase the level of trust in Ripple in the stable digital asset market. If the regulator gives a positive conclusion, the new RLUSD stablecoin will be regulated both at the federal level and within the state.
Thus, Ripple is repeating the strategy of Circle, the issuer of USDC. Earlier, Circle also applied to the OCC to create a national trust bank. Both moves by the companies are taking place in the context of the US Senate approving the GENIUS Act, which regulates the rules for stablecoin issuers. The new bill is intended to create a clear framework for the operation of such financial instruments and increase the transparency of their issuance.
In addition, Ripple has submitted a request to open a primary account with the Federal Reserve. This will allow the company to hold RLUSD reserves directly at the Fed without intermediaries. The transfer of documents took place through Standard Custody, a custodial company that became part of Ripple after the deal in early 2024.
Against the backdrop of this news, the XRP rate has grown significantly. According to CoinGecko, the token price is $2.24, which is 3.8% higher than the previous day. This once again shows that the market is responding positively to Ripple's efforts to expand its role in the US financial system.
Recall that in the spring of this year, Ripple acquired the crypto broker Hidden Road for $1.25 billion. This expansion is due to the active work of the mergers and acquisitions department. Recently, the company's CTO David Schwartz said that the team is considering several deals at different stages of preparation, which could further strengthen Ripple's position in the crypto market and beyond.
These steps show that Ripple is not only focused on developing payment solutions, but also on building trust in its own digital assets through government regulation and direct interaction with key US financial institutions. In the coming months, the market is waiting to see how regulators will respond to these applications and whether Ripple will be able to implement its ambitious plan to issue RLUSD with the support of federal structures.
