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Ripple has submitted an application to obtain a U.S. bank charter, following a similar move by stablecoin issuer Circle
The move has marked a strategic effort by Ripple to embed itself deeper into the regulated financial system
The decision reflects a broader shift as crypto firms seek banking legitimacy amid evolving U.S. regulations

Ripple has taken a big step toward transforming itself into a full-fledged financial institution by quietly applying for a national bank charter in the United States. For a company that has long walked the line between traditional finance and blockchain innovation, the move signals a new phase, one where compliance, access, and stability take precedence. It also places Ripple in direct regulatory parallel with Circle, which has pursued its own charter as stablecoin oversight tightens under Washington’s gaze.

Seeking Legitimacy Through Regulation

According to sources familiar with the matter, Ripple’s application has been filed with the Office of the Comptroller of the Currency (OCC). If granted, the charter would allow Ripple to hold customer deposits, access Federal Reserve systems directly, and operate with fewer intermediaries, essentially enabling it to function like a traditional bank. For a crypto company still weathering the fallout from years of regulatory ambiguity, such access could be transformative.

In a statement, Ripple did not confirm the filing but reaffirmed its regulatory stance:

Ripple has long championed regulatory clarity and responsible innovation in finance. We believe that being part of the regulated banking system strengthens our ability to support enterprise customers.

Ripple Joins Circle in Seeking Charter

With several pieces of stablecoin legislation now moving through Congress, Ripple’s timing is no surprise; rather than wait for mandates, it is opting to get ahead of them. The company has been emboldened after its victory over the Securities and Exchange Commission last year and the settling of the final elements of the case months ago.

The move comes as Circle, issuer of the USDC stablecoin, also seeks a full-reserve banking charter, a process it began amid pressure from the Biden administration to bring stablecoin issuers under federal oversight. While Circle’s focus remains largely on tokenized dollars, Ripple’s ambitions stretch wider, encompassing cross-border payments, enterprise liquidity, and settlement solutions beyond the crypto sphere.

There is no guarantee either application will be approved, and the road to chartering can be long and politically fraught. Nevertheless, the attempt alone marks a clear bet: that the future of crypto lies not in circumventing the system, but in becoming part of it.

The post Ripple Follows Circle in Applying for U.S. Bank Charter appeared first on FullyCrypto.

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Filed under: Bitcoin - @ July 3, 2025 9:04 am