TLDR:

Ripple applied for a U.S. bank charter and Fed master account to strengthen RLUSD reserves.
The move would allow Ripple to offer regulated payment services without intermediary banks.
Ripple aims to hold RLUSD reserves directly at the Fed via its subsidiary, Standard Custody.
Dual oversight from NYDFS and OCC could boost trust in RLUSD among institutions and regulators.

Ripple has formally applied for a national bank charter in the United States, a move signaling its deepening ambitions in regulated finance. 

The application, filed with the Office of the Comptroller of the Currency (OCC), would bring the crypto firm under federal oversight. If approved, Ripple would be one of the first digital asset companies to hold both state and federal regulatory licenses. 

The strategy comes as crypto players aim to bridge into traditional finance, especially after years of regulatory friction. Ripple’s broader plan includes securing access to a Federal Reserve master account, which could potentially reshape how its stablecoin operates.

Ripple OCC Application Marks New Regulatory Path

Ripple’s push to become a nationally chartered bank reflects a pivot toward more integrated financial services. 

The charter, if granted, would allow the company to offer a regulated payment infrastructure directly, avoiding intermediary banks. An OCC spokesperson confirmed receiving the application.

Brad Garlinghouse, Ripple’s CEO, stated that the firm has long prioritized compliance and transparency. 

He noted that dual oversight, state-level through the New York Department of Financial Services and federal via the OCC, would boost trust in Ripple’s stablecoin RLUSD. By aligning with both regulators, Ripple seeks to set a new standard in digital asset governance.

True to our long-standing compliance roots, @Ripple is applying for a national bank charter from the OCC. If approved, we would have both state (via NYDFS) and federal oversight, a new (and unique!) benchmark for trust in the stablecoin market.

Earlier in the week via… https://t.co/IdiR7x3eWZ

— Brad Garlinghouse (@bgarlinghouse) July 2, 2025

In parallel with the OCC application, Ripple has applied for a Federal Reserve master account through its subsidiary, Standard Custody. This access would allow Ripple to hold RLUSD reserves directly with the Fed. Such a structure reduces reliance on commercial banks and enhances reserve security.

Garlinghouse emphasized that direct reserve custody aligns with institutional expectations for security and accountability. He added that holding funds with the Fed would “future-proof” RLUSD’s framework, strengthening its standing in a stablecoin market exceeding $250 billion.

Crypto Firms See Opening After Policy Shift

Ripple’s dual application coincides with a policy shift in Washington. 

Earlier in 2025, a Trump administration executive order rolled back “Operation Chokepoint 2.0,” which had restricted bank access for crypto firms. Since then, banking regulators have softened their stance, with the Federal Reserve acknowledging banks’ right to serve compliant crypto clients.

The changing environment has prompted more crypto companies to seek direct links with the U.S. banking system. Ripple’s move could be a benchmark in that transition. 

By seeking full regulatory integration, Ripple positions itself to meet growing demand for stable, trusted digital payment systems in both public and institutional markets.

Ripple’s stablecoin, RLUSD, has been positioned as a fully regulated alternative in a rapidly expanding sector. The firm’s current efforts aim to ensure RLUSD meets evolving compliance standards while lowering friction for cross-border payments.

By applying for both a national bank license and a Fed master account, Ripple is crafting an infrastructure that supports large-scale financial operations. This dual approach could help RLUSD gain faster adoption, especially among institutions prioritizing regulatory clarity and risk mitigation.

 

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Filed under: Bitcoin - @ July 2, 2025 9:20 pm