XRP News Today: Ripple Seeks Federal Charter for Crypto Financial Services

Ripple's recent application for a national trust bank charter with the Office of the Comptroller of the Currency (OCC) marks a significant milestone for the company and the broader cryptocurrency industry. This move, if approved, would allow Ripple to integrate crypto-native financial services into the regulated mainstream, enhancing transparency, reducing costs, and accelerating transaction speeds.

One of the key benefits of this charter is the dual oversight it would provide. Currently, Ripple's RLUSD stablecoin is regulated at the state level by the New York Department of Financial Services. A federal OCC charter would add a layer of national oversight, setting a new benchmark for trust in the stablecoin market. This dual regulatory framework would ensure that crypto issuers operate under the same rigorous standards as traditional financial institutions, fostering greater trust and stability in the market.

Another significant advantage is the direct access to the Federal Reserve's payment rails that Ripple's subsidiary, Standard Custody & Trust Company, would gain if its application for a Federal Reserve master account is approved. This access would enable 24/7 settlement, reserve custody, and issuance without the need for intermediaries, significantly reducing costs and friction in the payment process.

Ripple's move aligns with a broader trend in the crypto industry, where companies like Circle, BitGo, and Wise are also seeking charters. This shift towards regulated trust banks is further supported by legislative developments, such as the recent advancement of the GENIUS Act in the Senate, which prepares for mandatory stablecoin issuer licensing. By positioning itself ahead of these regulatory changes, Ripple is demonstrating its commitment to compliance and institutional adoption.

With a federal charter, Ripple would be able to bypass correspondent banks, speeding up cross-border and institutional payments and drastically reducing costs. This would make Ripple's services more attractive to institutional clients who prioritize compliance and transparency. The explorer-level transparency over reserves and direct Fed custody would further enhance the appeal of RLUSD to banks, fintechs, and enterprise partners.

Ripple's journey to obtain a U.S. federal charter comes after years of legal challenges with the Securities and Exchange Commission (SEC). The approval of this charter would signal Ripple's maturity and resolve, reinforcing its legitimacy in the U.S. financial system. This development is expected to boost confidence in XRP, potentially paving the way for its price to reach the psychological level of $10.

Market analysts have noted that XRP has been forming higher highs and higher lows, indicating strong bullish sentiment. This trend, combined with various bullish developments such as the potential approval of an XRP exchange-traded fund (ETF), suggests that XRP could be on track to reach the $10 level in the near future. Additionally, the possibility of Ripple hitting the $30 to $50 price range has been discussed, given its ambitions to target 20–30% of the $1 trillion cross-border payments market and the potential for significant institutional inflows from an XRP Spot ETF approval.