Ripple applies for a U.S. banking license and a Federal Reserve master account to advance its compliance strategy for stablecoins

ChainCatcher news, according to Cointelegraph, Ripple has submitted a national bank charter application to the Office of the Comptroller of the Currency (OCC) and applied for a Federal Reserve master account, aiming to strengthen compliance with the traditional financial system. Ripple CEO Brad Garlinghouse stated that this move will establish a "trusted compliance benchmark" for its stablecoin RLUSD. Previously, Circle also applied to establish a national trust bank. As the stablecoin regulatory bill GENIUS Act progresses, leading crypto companies are accelerating their efforts to gain regulatory approval.