Ripple Seeks National Bank Charter for US Expansion

Ripple has formally applied for a national bank charter in the United States, marking a significant step in its strategic expansion into regulated finance. The application, submitted to the Office of the Comptroller of the Currency (OCC), aims to bring the crypto firm under federal oversight. If approved, Ripple would become one of the first digital asset companies to hold both state and federal regulatory licenses, a move that underscores its commitment to compliance and transparency.

The push for a national bank charter is part of Ripple's broader strategy to integrate more deeply with traditional financial services. This charter would enable Ripple to offer regulated payment services directly, bypassing the need for intermediary banks. An OCC spokesperson confirmed the receipt of the application, highlighting the seriousness of Ripple's intentions.

Brad Garlinghouse, Ripple's CEO, emphasized the company's long-standing commitment to compliance and transparency. He noted that dual oversight, both at the state level through the New York Department of Financial Services and federally through the OCC, would enhance trust in Ripple's stablecoin, RLUSD. This dual regulatory framework is seen as a new benchmark for trust in the stablecoin market, setting a standard for digital asset governance.

In addition to 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, reducing reliance on commercial banks and enhancing reserve security. Garlinghouse stated that direct reserve custody aligns with institutional expectations for security and accountability, and holding funds with the Fed would "future-proof" RLUSD’s framework, strengthening its position in a stablecoin market.

Ripple's dual application comes at a time of 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. This changing environment has prompted more crypto companies to seek direct links with the U.S. banking system, and Ripple's move could set a benchmark in that transition.

By seeking full regulatory integration, Ripple positions itself to meet the 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.