Crypto company Ripple has announced its plans to apply for a national bank charter in the US, with the move underlining a broader push towards regulatory clarity and integration with the traditional financial ecosystem.
By securing this charter, Ripple would be able to settle payments more efficiently and minimise costs by bypassing intermediary banks. Additionally, the company would be able to facilitate more legitimacy after what cryptocurrency firms claim has been regulatory exclusion. Ripple’s announcement, which was made by its CEO, Brad Garlinghouse, in an X post on 2 July 2025, follows a similar move made by Circle, another firm operating in this sector.
Ripple’s national bank charter will have to be approved by the Office of the Comptroller of the Currency (OCC), a banking regulator in the US. According to information related by Reuters, an OCC official confirmed the receipt of a charter application from Ripple. Additionally, the company is requesting a Fed Master account that would provide it with access to the Federal Reserve’s payments infrastructure and enable it to hold its stablecoin reserves directly with the central bank.
Furthermore, since the US Senate passed the GENIUS Act, stablecoins have increased substantially, which is a significant development for the crypto industry as it could scale its use through clear regulations.
Latest moves from Ripple
Earlier in June 2025, Alchemy Pay integrated Ripple’s RLUSD stablecoin, with the initiative expanding access to asset purchases across over 173 countries, using more than 300 local payment methods, including major card networks, digital wallets, and bank transfers. Standard Custody, a limited-purpose trust company regulated by the New York Department of Financial Services (NYDFS), acted as the issuance manager of RLUSD. Additionally, the stablecoin was backed 1:1 by USD and equivalent reserves and was redeemable for fiat currency.
Shortly before, Ripple made another move, expanding its UAE payments network with Zand and Mamo. The news followed the company’s receipt of a licence from the Dubai Financial Services Authority (DFSA), enabling it to offer digital asset services within the Dubai International Financial Centre (DIFC).
