Ripple Labs has taken a major regulatory leap forward in the United States by applying for a national banking license through the Office of the Comptroller of the Currency (OCC). Introduced by CEO Brad Garlinghouse via X, the move marks a significant milestone in Ripple’s efforts to integrate more deeply into the traditional banking system. According to Garlinghouse, acquiring this charter would be “a new—and unique!—benchmark for trust in the stablecoin market,” as Ripple seeks to bring its RLUSD stablecoin under dual federal and state oversight

Simultaneously, Ripple’s subsidiary, Standard Custody & Trust Company, has reportedly applied for a Federal Reserve master account. This enables direct holding of RLUSD reserves at the Federal Reserve, increasing security and transparency in their operations in.investing.com+5sherwood.news+5ainvest.com+5. If granted, the combination of an OCC charter and Fed access would place Ripple’s stablecoin infrastructure under robust regulatory scrutiny—a move that few competitors have achieved.

Ripple joins a growing list of crypto-native firms, including Circle, BitGo, Coinbase, and Paxos, pursuing U.S. banking charters as the regulatory environment becomes more favorable ainvest.com. Under the current Trump administration, which has taken a more crypto-friendly stance, these filings gain traction. Anchorage Digital remains the only crypto firm to hold such a charter, but this week’s approvals and applications suggest that more could follow financemagnates.com+10ainvest.com+10sherwood.news+10.

While Ripple’s license filing may appear procedural on the surface, it arrives amid broader regulatory de-escalation, including the close of its legal battle with the U.S. Securities and Exchange Commission (SEC). Ripple has reportedly dropped its cross-appeal motion, signaling confidence that the agency will follow suit—removing major legal and regulatory hurdles cryptobriefing.com.

At the same time, Ripple is pushing forward with its long-awaited RLUSD stablecoin. Approved by the New York Department of Financial Services (NYDFS) late last year, RLUSD is dollar-backed, NYDFS-regulated, and designed for institutional use hotfix.coindesk.com+15cryptobriefing.com+15ainvest.com+15. It already has high-profile listings in the works with exchanges such as Uphold, Bitso, MoonPay, Archax, and CoinMENA reddit.com+15financemagnates.com+15cointelegraph.com+15. RLUSD’s addition under federal regulation through the OCC would position it as one of the most compliant stablecoins in the U.S. market.

Market response to these developments has been mixed. Ripple’s native token, XRP, rallied approximately 5% following news of the charter filing, surging to $2.27 reddit.com+15financemagnates.com+15sherwood.news+15. However, skepticism persists: some argue that Ripple’s growth hasn’t translated into proportional price gains, as XRP continues to face stagnant valuations despite its expanding regulatory and institutional footprint . Critics suggest that the company’s achievements are not yet reflected in broader investor interest.

Reddit discussions echo this ambivalence, highlighting how Ripple’s licensing milestones—including over 50 Money Transmitter Licenses (MTLs) and NYDFS approval of RLUSD—appear to pave the way for major banks like Bank of America and Santander to adopt XRP-led solutions. Yet XRP’s price has lingered near $2.19, raising questions about whether institutional adoption alone can drive meaningful price momentum cointelegraph.com+7reddit.com+7reddit.com+7.

Even so, proponents emphasize that the regulatory groundwork holds long-term value. They argue that XRP’s future role in cross-border payments and stablecoin settlement depends far more on structural legitimacy than on short-term trading dynamics. With the dual oversight of the NYDFS and OCC, RLUSD could become the most trusted stablecoin for institutional liquidity and treasury operations .

Ripple’s strategy also includes expanding into bank-grade custody services and cross-border settlements—services underpinned by RLUSD and anchored by regulatory trust. A Reddit commentator noted that this approach aligns Ripple with traditional financial infrastructure, increasing the likelihood that banks will engage with XRP Ledger-based solutions without fearing legal risk .

In summary, Ripple’s OCC application and pursuit of a Fed master account represent a watershed moment in its evolution. It positions RLUSD and XRP at the intersection of crypto and traditional banking, pushing both toward mainstream acceptance. While immediate price impact may be limited, the long-term implications are substantial: dual-regulated stablecoin services, institutional integrations, and enhanced utility for XRP. If regulatory approvals succeed and market players respond, Ripple may well redefine the baseline for compliance-led innovation in the crypto space.