Overview

• On July 2, Ripple formally submitted an application to the Office of the Comptroller of the Currency for a national bank charter.
• Its Standard Custody & Trust subsidiary also filed for a Federal Reserve master account to directly access the Fed’s payment network.
• These moves come days after stablecoin issuer Circle applied for a comparable charter under the Senate-passed GENIUS Act.
• Approval would subject Ripple’s RLUSD stablecoin to both New York Department of Financial Services and federal regulation, establishing a new compliance benchmark.
• Anchorage Digital remains the only crypto firm with a national trust charter, underscoring the novelty of these applications.