Ripple applies to the American banking license star-news.press/wp

Crypto Ripple Labs is applying for a bank license in the United States, following a similar step by the StableCoin Sexuer Circle Internet Group, where encryption companies are looking to deepen relationships with traditional financing.

CEO of Ripple Brad Garlinghouse books To X on Wednesday, the company applies to obtain a license with the American National Bank organizer, the Currency Observer Office (OCC), which previously confirms a report From Wall Street.

“According to our long -term compliance roots, Ripple applies to a national bank charter from OCC,” he wrote.

“A new standard (unique!) For confidence in the Stablecoin market” said because the company will be under federal and governmental supervision – with New York’s financial services management, “said Garinghouse, if the license is approved, will be a new standard (unique!) For confidence in the Stablecoin market,” because the company will be under federal and governmental supervision – with New York’s financial services management.

Ripple Circle follows the bank’s charter

Ripple’s decision to obtain a bank license came just two days after Circle, which issues the second largest Stablecoin USDC (USDC), on the OCC application to create a national confidence bank that will oversee Stablecoin reserves.

The move comes by both companies when the US Senate passed a draft law regulating Stablecoin called a genius law, which sets criteria for providing distinctive symbols for the US dollar, including that OCC will supervise the two AgdcoCoin exporters.

The co -founder and CEO of Serkel, Jeremy Aller, said that the company is taking “proactive steps” to “compatible with the emerging American regulations to issue and operate Stablecoins from the dollar.”

Anchorage Digital is the only encryption company that carries a charter for the National Bank.

Bidding for the main federal reserve account

Ripple’s Garlinghouse added that the company also applied for a major account with the Federal Reserve, allowing it to access the US central banking system.

“This arrival will allow us to keep the $ RLUSD reserves directly with the Federal Reserve and provide an additional layer of safety for future confidence in RLUSD,” said Garlinghyus.

Related to: Bitcoin opposite. It is waving on the horizon in the face of Stablecoin as a genius work is approaching

He added: “Congress is working on clear rules and regulations, and banks (in a period far from the ConkePoint 2.0 operating years) tend.”

Ripple applied to obtain the account through Custom Standard, a encryption nursery company that it acquired in February 2024.

XRP earns more than 3 % on the Ripple’s Code

XRP (XRP), the distinguished symbol of XRP Ledger Blockchain that Ripple Labs uses for its products, increased by 3.2 % during the past day to trade at $ 2.24, According to To Coingecko.

The distinguished code began to climb late on Wednesday before reaching its peak over 24 hours, amounting to approximately $ 2.27 at the time of Garlinghouse’s publication a little before cooling from its gathering.

Legal Committee: Crypto wanted to topple banks, and now it’s in Stablecoin fighting