Ripple has made a large step into the main financial market by applying for a U.S. national bank license with the Office of the Comptroller of the Currency (OCC). This move puts Ripple in play for dual regulation federal and state and also puts the stablecoin RLUSD forward in terms of legitimacy. Indeed, securing the Ripple banking license would further enhance its position.
CEO Brad Garlinghouse announced the news on July 2, 2025. He put it forth as a step in Ripple’s plan to set “a new bar for trust” in digital currency. Should it be granted the license will see Ripple become one of the first blockchain players to have both federal and New York State regulatory approvals for a stablecoin, an achievement highlighted by the Ripple banking license pursuit.
Ripple applied through its subsidiary Standard Custody for a Federal Reserve Master Account. This will see RLUSD reserves put in the Fed which in turn will raise the bar for financial security and transparency. Also, Standard Custody is a holder of trust and money transmitter licenses which in turn add to the company’s credibility, making the Ripple banking license application even more significant.
Ripple Gets Green Light From U.S. Stablecoin Law
Ripple has put forth its application at the drop of the GENIUS Act by the U.S. Senate which is the first of its kind in stablecoin regulation at the federal level. This law requires assets backed reserves and monthly reports from stablecoin issuers and also names the OCC as the primary regulator. Thus, Rippler’s application is an early play into these new federal regulations, what could eventually lead to securing a Ripple banking license.
Ripple isn’t the only one. Circle which issues USDC applied for a similar bank charter two days before. If successful both companies may put in place digital currency banks which run under federal supervision, especially with Ripple’s potential banking license.
Currently only Anchorage Digital has a national bank license in crypto although it has AML issues. Ripple, which has a better record and strong infrastructure, may see success in obtaining approval with a high chance at the Ripple banking license, where others failed.
RLUSD Gains Market Traction, XRP Responds Positively
Ripple’s RLUSD stablecoin launched at the end of 2024, now has a $450 market cap. It may be a little small as of now compared to players like USDT, USDC but is growing. AMINA Bank already includes support for RLUSD as also that Ripple’s network is present in over 90 countries, potentially bolstering the Ripple banking license pursuit.
Live XRP market data on CoinGecko shows the token rose over 3% to a high of $2.27. A 35% jump in trading volume and open interest which hit a monthly high. Analysts put forth that we will see more growth if XRP holds key support levels, especially if license is secured.
If passed, Ripple’s license will transform the crypto-finance space see regulated stablecoins which have the support of the U.S. central banking infrastructure. This is the turn of the page for Ripple which has grown from a fintech disruptor into a regulated financial player, with a likely boost from the Ripple banking license.
