XRP News Today: Ripple Seeks Banking Charter to Reshape Global Financial Infrastructure

Ripple, the company behind the digital asset XRP, is making significant strides towards becoming a key player in the global financial infrastructure. The company has requested a national banking charter, which, if granted, would provide it with access to Federal Reserve master accounts and Tier 1 capacity. This move is aimed at circumventing conventional bottlenecks in the banking system and liquidity path, potentially reshaping the existing clearing systems.

XRP, designed as a programmable liquidity tool for financial institutions, enables instant, trustless, and cross-border transactions through the XRP Ledger. This technology has the potential to revolutionize the way money moves globally, challenging the traditional control that Wall Street institutions have held over cross-border finance. According to crypto analyst and commentator Pumpius, XRP’s potential to reshape global liquidity is raising concerns among institutional players who have traditionally controlled these systems.

Ripple’s progress is not just a corporate expansion but a structural change in how money moves. The company has also introduced RLUSD, a stablecoin supported by U.S. dollar reserves held at the Federal Reserve. If adopted, RLUSD could serve as a compliant substitute for current settlement systems, resulting in quicker and more efficient channels of transmitting digital money. This development, combined with regulatory readiness, suggests a shift in control that legacy players did not anticipate.

Circle, the issuer of USDC, is also seeking a banking charter, which Pumpius describes as a coordinated move toward establishing a new system of financial rails. These emerging infrastructures are aligned with ISO 20022 standards, making them suitable replacements for the aging SWIFT network. Legacy banking models are regarded as one of the victims of tokenized money, as digital ledgers such as the XRPL enable institutions to exchange funds without remittance intermediaries and with minimal commissions and friction across borders with near-instant settlements.

XRP’s growing role in the evolving financial system is challenging long-standing structures. With Ripple seeking regulatory status as a bank and expanding into stablecoin issuance, Wall Street’s concern reportedly appears tied to the asset’s increasing independence and utility. The fact that XRP will play the role of the core settlement layer makes it even more strategic, as it positions itself as a pillar of financial infrastructure. This development is causing Wall Street institutions to observe a new architecture being built that does not initially include them, leading to unprecedented pressure on their traditional control over cross-border liquidity systems.