Overview

• The OCC confirmed receipt of Ripple’s national bank charter application filed July 2.
• Through its Standard Custody subsidiary, Ripple is pursuing a Federal Reserve master account to hold reserves directly at the central bank.
• If approved, federal supervision would complement existing New York Department of Financial Services oversight of Ripple’s RLUSD stablecoin.
• Circle submitted a similar national bank charter request on June 30, following Anchorage Digital’s pioneering trust charter in 2021.
• Senate passage of the GENIUS Act will require major stablecoin issuers to maintain liquid reserves under OCC supervision.